February 22 was a positive day for Turquoise Hill Resources Ltd. (TRQ:CA) as its stock finished the day having gained 12.5% to hit a price of $2.79 a share. The company reached a market cap of 5.61 billion and has 2.01 billion shares outstanding. Turquoise Hill Resources Ltd. is a component of the the S&P/TSX Composite Index.
3.78 million shares changed hands over the course of the day as compared to an average volume of 3.56 million over the last 30 days for Turquoise Hill Resources Ltd..
Turquoise Hill Resources Ltd is a global mining company that primarily mines copper, gold, and coal in the Asia-Pacific region. The company holds a 66% interest in Oyu Tolgoi, one of the world’s largest copper-gold-silver mines, which ships concentrate to customers in China. Oyu Tolgoi is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border. The company also holds interests in companies that mine molybdenum and rhenium in Australia, and gold at the Kyzyl Gold Project in Kazakhstan.. The company makes its home in Vancouver, BC, and is currently under the leadership of CEO Jeffery D. Tygesen.
Turquoise Hill Resources Ltd. has hit a high of $4.37 and reached a low of $1.94 over its last year of trading. The stock’s 50-day SMA is now $2.18 and 200-day SMA is $2.89. As for its price valuations, the P/E ratio is at 8.9 and P/B is now 0.46.
Launched in 1977, the S&P/TSX Composite Index is widely recognized as the benchmark gauge for the broader Canadian equity market. According to TMX, the index cover approximately 95% of the Canadian equities market and only Canadian-based companies listed on the Toronto Stock Exchange are eligible to be included in the index.