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    TRQ   CA9004352071

TURQUOISE HILL RESOURCES LTD.

(TRQ)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-09-23 pm EDT
40.69 CAD   -0.56%
09/16Pentwater Capital Management increases stake in Turquoise Hill Resources
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09/16Toronto Stocks Tumble; Dye & Durham Falls on 4Q Guidance Misses
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09/14ROBERT FRIEDLAND TO DELIVER A KEYNOTE ADDRESS AT THE JEFFERIES GREEN METALS SUMMIT ON THURSDAY, SEPTEMBER 15TH, AT 9 : 40 am edt
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Turquoise Hill Shares Slide in Premarket Trading After Rio Tinto Buyout Proposal

08/15/2022 | 04:41am EDT

By Adriano Marchese


Shares in Turquoise Hill Resources Ltd. fell in premarket trading Monday after the mining company said Rio Tinto PLC's takeover offer isn't in its best interest.

Minority investor and partner Rio Tinto PLC made an all-cash offer to buy the shares it doesn't hold in Turquoise Hill at a 32% premium to the last closing price before the offer was announced.

At 6:16 a.m ET, Turquoise Hill's New York-traded shares were down 24% from its previous close of $26.25.

Turquoise Hill said a special committee it had established determined that the offer "does not fully and fairly reflect the fundamental and long-term strategic value of the company's majority ownership of the Oyu Tolgoi project."

Rio Tinto offered 34 Canadian dollars (US$26.57) for each share it doesn't already own, valuing Turquoise Hill's minority share capital at roughly US$2.7 billion.

Turquoise Hill is already 51%-owned by the U.K. mining giant and holds a 66% interest in the Oyu Tolgoi copper-gold mine in Mongolia.

The company said discussions between the two parties hasn't led to consensus on value and price nor a better offer from Rio Tinto.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

08-15-22 0641ET

Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO PLC -3.12% 4677.5 Delayed Quote.-4.38%
SILVER -0.68% 18.654 Delayed Quote.-19.06%
TURQUOISE HILL RESOURCES LTD. -0.56% 40.69 Delayed Quote.95.63%
All news about TURQUOISE HILL RESOURCES LTD.
09/16Pentwater Capital Management increases stake in Turquoise Hill Resources
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09/16Toronto Stocks Tumble; Dye & Durham Falls on 4Q Guidance Misses
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09/14ROBERT FRIEDLAND TO DELIVER A KEYNOT : 40 am edt
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09/14UPDATE ON TURQUOISE HILL : Says U.S. Federal Court Dismisses Pentwater Class Action Agains..
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09/14Turquoise Hill Says U.S. Federal Court Dismisses Pentwater Class Action Against It
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09/14TURQUOISE HILL BRIEF : Says U.S. Federal Court Dismisses Pentwater Class Action Against It
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09/14U.S. Federal Court Dismisses Pentwater Class Action Against Turquoise Hill
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09/14U.S. Federal Court Dismisses Pentwater Class Action Against Turquoise Hill
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More news
Analyst Recommendations on TURQUOISE HILL RESOURCES LTD.
More recommendations
Financials (USD)
Sales 2022 1 350 M - -
Net income 2022 310 M - -
Net Debt 2022 3 752 M - -
P/E ratio 2022 19,9x
Yield 2022 -
Capitalization 6 036 M 6 036 M -
EV / Sales 2022 7,25x
EV / Sales 2023 8,27x
Nbr of Employees 3 478
Free-Float 47,9%
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Turquoise Hill Resources Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends TURQUOISE HILL RESOURCES LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 30,00 $
Average target price 33,40 $
Spread / Average Target 11,4%
EPS Revisions
Managers and Directors
Steeve Thibeault Chief Executive Officer & Director
Luke Colton Chief Financial Officer
Robert Peter Charles Gillin Chairman
Jo-Anne Dudley Chief Operating Officer
Russel C. Robertson Independent Director
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1st jan.Capi. (M$)
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