What’s Next for Turquoise Hill Resources LTD. Ordinary Shares (NYSE:TRQ) After Having More Shares Shorted?

October 13, 2018 - By Louis Casey

Turquoise Hill Resources Ltd. (NYSE:TRQ) Logo

The stock of Turquoise Hill Resources LTD. Ordinary Shares (NYSE:TRQ) registered an increase of 7.37% in short interest. TRQ’s total short interest was 12.96 million shares in October as published by FINRA. Its up 7.37% from 12.07M shares, reported previously. With 2.68M shares average volume, it will take short sellers 5 days to cover their TRQ’s short positions. The short interest to Turquoise Hill Resources LTD. Ordinary Shares’s float is 1.46%.

The stock increased 1.03% or $0.02 during the last trading session, reaching $1.96. About 3.56 million shares traded. Turquoise Hill Resources Ltd. (NYSE:TRQ) has declined 31.66% since October 13, 2017 and is downtrending. It has underperformed by 47.28% the S&P500.

Turquoise Hill Resources Ltd., together with its subsidiaries, operates as a mining company. The company has market cap of $4.00 billion. The firm engages in mining copper, gold, silver, and molybdenum. It has a 10.54 P/E ratio. The Company’s principal material mineral resource property is the Oyu Tolgoi copper-gold mine located in the southern Mongolia.

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