Turquoise Hill Resources Ltd. (TRQ) has risen sharply, recording gains of 8.05% in the past 4 weeks. However, the stock has corrected -2.24% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.21% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Turquoise Hill Resources Ltd. (NYSE:TRQ): The stock opened at $3.50 on Friday but the bulls could not build on the opening and the stock topped out at $3.53 for the day. The stock traded down to $3.46 during the day, due to lack of any buying support eventually closed down at $3.49 with a loss of -0.57% for the day. The stock had closed at $3.51 on the previous day. The total traded volume was 1,626,560 shares.
The stock has recorded a 20-day Moving Average of 1.26% and the 50-Day Moving Average is 10.21%. Turquoise Hill Resources Ltd. is up 25.09% in the last 3-month period. Year-to-Date the stock performance stands at 37.4%.
Turquoise Hill Resources Ltd. (Turquoise Hill) is an international mining company focused on mining operations in Mongolia. The Companys 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, Mongolias 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).