Turquoise Hill Resources Ltd (TRQ) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.02. The company posted revenue of $422.70 million in the period, compared to analysts expectations of $384.46 million. The company’s revenue was down -.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.
Turquoise Hill Resources Ltd closed down -0.13 points or -4.63% at $2.68 with 17,61,471 shares getting traded on Wednesday. Post opening the session at $2.77, the shares hit an intraday low of $2.67 and an intraday high of $2.83 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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).