Capital Growth Management LP Lowered Its Turquoise Hill Res LTD (TRQ) Holding as Market Value Declined

September 30, 2018 - By Catherine Diaz

Turquoise Hill Resources Ltd. (NYSE:TRQ) Logo

Capital Growth Management Lp decreased its stake in Turquoise Hill Res Ltd (TRQ) by 35.97% based on its latest 2018Q2 regulatory filing with the SEC. Capital Growth Management Lp sold 13.93M shares as the company’s stock declined 24.04% while stock markets rallied. The hedge fund held 24.79M shares of the precious metals company at the end of 2018Q2, valued at $70.40M, down from 38.72 million at the end of the previous reported quarter. Capital Growth Management Lp who had been investing in Turquoise Hill Res Ltd for a number of months, seems to be less bullish one the $4.24 billion market cap company. The stock decreased 0.47% or $0.01 during the last trading session, reaching $2.12. About 14.13 million shares traded or 242.22% up from the average. Turquoise Hill Resources Ltd. (NYSE:TRQ) has declined 31.66% since September 30, 2017 and is downtrending. It has underperformed by 47.28% the S&P500.

Capital Growth Management Lp, which manages about $1.98B US Long portfolio, upped its stake in Banco Bradesco S A (NYSE:BBD) by 6.23M shares to 8.98M shares, valued at $61.57M in 2018Q2, according to the filing. It also increased its holding in Potlatch Deltic Corp (NASDAQ:PCH) by 470,000 shares in the quarter, for a total of 855,000 shares, and has risen its stake in Wyndham Destinations Inc (NYSE:WYN).

More recent Turquoise Hill Resources Ltd. (NYSE:TRQ) news were published by: 247Wallst.com which released: “JC Penney, Ford Floundering in Friday’s 52-Week Low Club” on September 28, 2018. Also 247Wallst.com published the news titled: “General Electric, General Motors Drop into Wednesday’s 52-Week Low Club” on September 26, 2018. 247Wallst.com‘s news article titled: “eBay, General Electric Slide into Tuesday’s 52-Week Low Club” with publication date: September 25, 2018 was also an interesting one.

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