Pentwater Capital Management Lp Lowers stake in Turquoise Hill Resources Ltd (TRQ)

Turquoise Hill Resources Ltd (TRQ) : Pentwater Capital Management Lp reduced its stake in Turquoise Hill Resources Ltd by 10.49% during the most recent quarter end. The investment management company now holds a total of 104,170,000 shares of Turquoise Hill Resources Ltd which is valued at $326,052,100 after selling 12,214,300 shares in Turquoise Hill Resources Ltd , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Turquoise Hill Resources Ltd makes up approximately 6.00% of Pentwater Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Parallax Volatility Advisers sold out all of its stake in TRQ during the most recent quarter. The investment firm sold 47,099 shares of TRQ which is valued $147,420. Engineers Gate Manager Lp added TRQ to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $31,300. Edmond De Rothschild Holding S.a. added TRQ to its portfolio by purchasing 70,000 company shares during the most recent quarter which is valued at $219,100. Turquoise Hill Resources Ltd makes up approx 0.01% of Edmond De Rothschild Holding S.a.’s portfolio.Bnp Paribas Investment Partners S.a. reduced its stake in TRQ by selling 5,468 shares or 3.21% in the most recent quarter. The Hedge Fund company now holds 164,937 shares of TRQ which is valued at $529,448.

Turquoise Hill Resources Ltd opened for trading at $3.08 and hit $3.12 on the upside on Thursday, eventually ending the session at $3.09, with a gain of 0.32% or 0.01 points. The heightened volatility saw the trading volume jump to 26,62,174 shares. Company has a market cap of $6,218 M.

On the company’s financial health, Turquoise Hill Resources Ltd reported $0.01 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $0.01. The company had revenue of $329.74 million for the quarter, compared to analysts expectations of $316.13 million. The company’s revenue was down -21.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Turquoise Hill Resources Ltd. RBC Capital Mkts Initiated Turquoise Hill Resources Ltd on Jul 18, 2016 to “Sector Perform”, Price Target of the shares are set at $4.

Turquoise Hill Resources Ltd. (Turquoise Hill) is an international mining company focused on mining operations in Mongolia. The Company’s principal and only material mineral resource property is the Oyu Tolgoi copper-gold mine in southern Mongolia. The Oyu Tolgoi Mine is approximately 550 kilometers south of Ulaanbaatar Mongolia’s capital city and 80 kilometers north of the Mongolia-China border. The minerals on the property consist of porphyry-style copper gold silver and molybdenum contained in a linear structural trend (the Oyu Tolgoi Trend) that extends over 26 kilometers. Mineral resources include from south to north the Heruga Deposit the Southern Oyu deposits (Southwest Oyu South Oyu Wedge and Central Oyu) and the Hugo Dummett deposits (Hugo South Hugo North and Hugo North Extension).

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