Goldman Sachs Group Inc. Lowers Holdings in Turquoise Hill Resources (TRQ)

Goldman Sachs Group Inc. lowered its position in shares of Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) by 14.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 581,589 shares of the basic materials company’s stock after selling 101,020 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Turquoise Hill Resources were worth $1,994,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRQ. Bank of New York Mellon Corp lifted its position in Turquoise Hill Resources by 20.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,710,336 shares of the basic materials company’s stock worth $5,303,000 after acquiring an additional 288,787 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Turquoise Hill Resources in the 4th quarter valued at about $137,000. Comerica Bank lifted its holdings in shares of Turquoise Hill Resources by 55.6% in the 4th quarter. Comerica Bank now owns 168,386 shares of the basic materials company’s stock valued at $549,000 after buying an additional 60,173 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Turquoise Hill Resources by 9.9% in the 4th quarter. CIBC Asset Management Inc now owns 1,137,999 shares of the basic materials company’s stock valued at $3,900,000 after buying an additional 102,428 shares during the period. Finally, BT Investment Management Ltd lifted its holdings in shares of Turquoise Hill Resources by 36.9% in the 4th quarter. BT Investment Management Ltd now owns 596,724 shares of the basic materials company’s stock valued at $2,047,000 after buying an additional 160,755 shares during the period. 33.76% of the stock is owned by institutional investors.

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Shares of TRQ stock opened at $3.07 on Tuesday. The stock has a market capitalization of $6,157.68, a PE ratio of 34.00 and a beta of 0.14. The company has a quick ratio of 5.74, a current ratio of 6.29 and a debt-to-equity ratio of 0.52. Turquoise Hill Resources has a 52-week low of $2.44 and a 52-week high of $3.59.

Turquoise Hill Resources (NYSE:TRQ) (TSE:TRQ) last issued its quarterly earnings data on Thursday, March 15th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $253.77 million. Turquoise Hill Resources had a return on equity of 2.27% and a net margin of 19.29%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS.

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About Turquoise Hill Resources

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company engages in mining copper, gold, silver, and molybdenum. Its principal material mineral resource property is the Oyu Tolgoi copper-gold mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd.

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

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