Turquoise Hill Resources Ltd. [NYSE: TRQ] slipped around -2.95 points on Monday, while shares priced at $23.30 at the close of the session, down -11.24%. The company report on August 15, 2022 that Turquoise Hill Special Committee Finds Rio Tinto’s Privatization Proposal Does Not Reflect Full & Fair Value of the Company.
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The Special Committee of independent directors of Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (“Turquoise Hill” or the “Company”) reports that it has advised Rio Tinto International Holdings Limited (“Rio Tinto”) that the Special Committee is terminating its review and consideration of Rio Tinto’s proposal to acquire all of the outstanding common shares of the Company it does not own for cash consideration of C$34 per share (the “Rio Tinto Proposal”). The Special Committee concluded, in consultation with its financial advisor, BMO Capital Markets, that Rio Tinto’s offer price of C$34 per share does not fully and fairly reflect the fundamental and long-term strategic value of the Company’s majority ownership of the Oyu Tolgoi project. In addition, the Special Committee reported that:.
In reaching its conclusion, the Special Committee considered a preliminary indications of value analysis conducted by TD Securities (“TD”), the independent valuator retained by the Special Committee, and noted that Rio Tinto’s offer price of C$34 per share was well below a range of values implied by TD’s preliminary analysis.
Turquoise Hill Resources Ltd. stock is now 41.64% up from its year-to-date (YTD) trading value. TRQ Stock saw the intraday high of $23.86 and lowest of $21.625 per share. The company’s 52-week high price is 31.05, which means current price is +62.71% above from all time high which was touched on 06/06/22.
Compared to the average trading volume of 746.38K shares, TRQ reached a trading volume of 7729804 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Turquoise Hill Resources Ltd. [TRQ]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TRQ shares is $24.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TRQ stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Scotiabank have made an estimate for Turquoise Hill Resources Ltd. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on May 12, 2022. The new note on the price target was released on March 15, 2022, representing the official price target for Turquoise Hill Resources Ltd. stock.
The Average True Range (ATR) for Turquoise Hill Resources Ltd. is set at 1.23, with the Price to Sales ratio for TRQ stock in the period of the last 12 months amounting to 2.37. The Price to Book ratio for the last quarter was 0.51.
How has TRQ stock performed recently?
Turquoise Hill Resources Ltd. [TRQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.65. With this latest performance, TRQ shares dropped by -6.69% in over the last four-week period, additionally plugging by 13.60% over the last 6 months – not to mention a rise of 47.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRQ stock in for the last two-week period is set at 35.93, with the RSI for the last a single of trading hit 32.05, and the three-weeks RSI is set at 38.45 for Turquoise Hill Resources Ltd. [TRQ]. The present Moving Average for the last 50 days of trading for this stock 26.41, while it was recorded at 25.19 for the last single week of trading, and 22.37 for the last 200 days.
Turquoise Hill Resources Ltd. [TRQ]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Turquoise Hill Resources Ltd. [TRQ] shares currently have an operating margin of +52.24 and a Gross Margin at +68.01. Turquoise Hill Resources Ltd.’s Net Margin is presently recorded at +26.63.
Return on Equity for this stock inclined to 5.27, with Return on Assets sitting at 3.77.
Turquoise Hill Resources Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.70.
Insider trade positions for Turquoise Hill Resources Ltd. [TRQ]
There are presently around $1,580 million, or 38.50% of TRQ stock, in the hands of institutional investors. The top three institutional holders of TRQ stocks are: PENTWATER CAPITAL MANAGEMENT LP with ownership of 19,460,256, which is approximately 3.368% of the company’s market cap and around 49.50% of the total institutional ownership; NOMURA HOLDINGS INC, holding 5,580,000 shares of the stock with an approximate value of $130.01 million in TRQ stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $116.22 million in TRQ stock with ownership of nearly -6.51% of the company’s market capitalization.
Positions in Turquoise Hill Resources Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 68 institutional holders increased their position in Turquoise Hill Resources Ltd. [NYSE:TRQ] by around 8,530,906 shares. Additionally, 68 investors decreased positions by around 11,775,750 shares, while 19 investors held positions by with 47,491,917 shares. The mentioned changes placed institutional holdings at 67,798,573 shares, according to the latest SEC report filing. TRQ stock had 28 new institutional investments in for a total of 3,033,498 shares, while 28 institutional investors sold positions of 7,167,366 shares during the same period.