UBS Group AG reduced its position in Turquoise Hill Resources Ltd. (NYSE:TRQ) (TSE:TRQ) by 87.4% during the first quarter, Holdings Channel reports. The firm owned 52,564 shares of the basic materials company’s stock after selling 365,191 shares during the period. UBS Group AG’s holdings in Turquoise Hill Resources were worth $161,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in shares of Turquoise Hill Resources by 21.6% in the first quarter. Marshall Wace LLP now owns 160,242 shares of the basic materials company’s stock worth $481,000 after buying an additional 28,432 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Turquoise Hill Resources by 4.2% in the first quarter. Vanguard Group Inc. now owns 18,646,021 shares of the basic materials company’s stock worth $57,243,000 after buying an additional 754,812 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Turquoise Hill Resources by 45.1% in the first quarter. Mackenzie Financial Corp now owns 5,526,977 shares of the basic materials company’s stock worth $16,968,000 after buying an additional 1,716,600 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Turquoise Hill Resources by 8.9% in the first quarter. Global X Management Co. LLC now owns 577,636 shares of the basic materials company’s stock worth $1,773,000 after buying an additional 47,406 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Turquoise Hill Resources by 13.9% in the first quarter. Legal & General Group Plc now owns 3,670,146 shares of the basic materials company’s stock worth $11,182,000 after buying an additional 447,110 shares in the last quarter. 31.32% of the stock is owned by institutional investors.

Shares of Turquoise Hill Resources Ltd. (NYSE TRQ) traded down 0.63% during midday trading on Thursday, hitting $3.14. The stock had a trading volume of 215,879 shares. The company’s 50-day moving average price is $2.90 and its 200-day moving average price is $2.99. Turquoise Hill Resources Ltd. has a 12-month low of $2.44 and a 12-month high of $3.80. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 52.33 and a beta of 0.39.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last released its earnings results on Monday, July 31st. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $203.70 million during the quarter, compared to analyst estimates of $223.14 million. Turquoise Hill Resources had a return on equity of 1.60% and a net margin of 14.20%. The company’s revenue for the quarter was down 38.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. Equities research analysts forecast that Turquoise Hill Resources Ltd. will post $0.01 EPS for the current year.

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A number of equities research analysts have recently commented on TRQ shares. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Turquoise Hill Resources in a research report on Wednesday, April 19th. BidaskClub raised Turquoise Hill Resources from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Turquoise Hill Resources in a research report on Tuesday, April 18th. Finally, ValuEngine downgraded Turquoise Hill Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $4.90.

Turquoise Hill Resources Company Profile

Turquoise Hill Resources Ltd. is an international mining company. The Company focuses on the operation and further development of the Oyu Tolgoi copper-gold mine in Southern Mongolia, which is the Company’s principal material mineral resource property. The Company’s Oyu Tolgoi mine is held through approximately 65% interest in Oyu Tolgoi LLC (Oyu Tolgoi) and the remaining approximately 35% interest is held by Erdenes Oyu Tolgoi LLC (Erdenes).

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Institutional Ownership by Quarter for Turquoise Hill Resources (NYSE:TRQ)

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