Turquoise Hill Resources Ltd. [TRQ] is 75.44% higher this YTD. Is it still time to buy?

Turquoise Hill Resources Ltd. [NYSE: TRQ] gained 23.76% or 5.54 points to close at $28.86 with a heavy trading volume of 8342188 shares. The company report on August 24, 2022 that Turquoise Hill Acknowledges Increased C$40 per share Privatization Proposal from Rio Tinto.

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Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (“Turquoise Hill” or the “Company”) acknowledges the receipt today of an improved non-binding proposal from Rio Tinto International Holdings Ltd. (“Rio Tinto”), to acquire all of the outstanding common shares of the Company it does not own for cash consideration of C$40 per share (the “New Rio Tinto Proposal”). Rio Tinto has stated that the New Rio Tinto Proposal is conditional on, among other things, Turquoise Hill not raising additional equity capital.

The New Rio Tinto Proposal was delivered to the Special Committee of the Company’s Board of Directors which is currently considering the proposal. Turquoise Hill shareholders do not need to take any action with respect to the proposal at this time.

It opened the trading session at $28.21, the shares rose to $29.32 and dropped to $28.05, the range by which the price of stock traded the whole day. The daily chart for TRQ points out that the company has recorded 45.46% gains over the past six months. However, it is still -196.0% lower than its most recent low trading price.

If we look at the average trading volume of 918.40K shares, TRQ reached to a volume of 8342188 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 1.65, with the Price to Sales ratio for TRQ stock in the period of the last 12 months amounting to 3.15. The Price to Book ratio for the last quarter was 0.64.

Trading performance analysis for TRQ stock

Turquoise Hill Resources Ltd. [TRQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.35. With this latest performance, TRQ shares gained by 11.56% in over the last four-week period, additionally plugging by 45.46% over the last 6 months – not to mention a rise of 97.54% 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 62.10, with the RSI for the last a single of trading hit 66.26, and the three-weeks RSI is set at 59.16 for Turquoise Hill Resources Ltd. [TRQ]. The present Moving Average for the last 50 days of trading for this stock 25.68, while it was recorded at 24.61 for the last single week of trading, and 22.81 for the last 200 days.

Turquoise Hill Resources Ltd. [TRQ]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Turquoise Hill Resources Ltd. [TRQ]

There are presently around $1,933 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 $161.04 million in TRQ stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $143.96 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 65 institutional holders increased their position in Turquoise Hill Resources Ltd. [NYSE:TRQ] by around 7,930,329 shares. Additionally, 71 investors decreased positions by around 12,530,840 shares, while 19 investors held positions by with 46,528,078 shares. The mentioned changes placed institutional holdings at 66,989,247 shares, according to the latest SEC report filing. TRQ stock had 26 new institutional investments in for a total of 2,538,860 shares, while 30 institutional investors sold positions of 7,662,004 shares during the same period.


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