Turquoise Hill Resources Ltd

TRQ NYSE
TRQ
Turquoise Hill Resources Ltd NYSE
 
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Upcoming Earnings
EPS
Market Cap
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Important events

Mar 152022

Turquoise gets a splash of green

Turquoise Hill has been slowly climbing for the last few years and is getting rewarded with a spectacular view of a potential buyout.

🔍 Key points:

  • Mining company Rio Tinto has made a $2.7bn cash offer to buy out the 49% of Canadian mining firm Turquoise Hill that it doesn’t already own, representing a more than 30% premium on the company.
  • It all comes down to a gold-mining project in the middle of Mongolia, which has the potential to bring in the big bucks (duh, have you seen the price of gold rn). They basically want to simplify the ownership structure of the project to make it simpler to run over there as they’re hitting government-related issues.
  • It looks like investors are on board given the stock popped nearly 32% on Monday to hit its highest price since August 2018, and what’s better is that it seems to be hanging onto those gains in Tuesday morning trading.
Peter Olexa / Unsplash

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