Turquoise Hill Resources Ltd (TRQ): Hedge Fund and Insider Sentiment Unchanged, What Should You Do?

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In the financial world, there are a multitude of indicators investors can use to monitor the equity markets. A pair of the most innovative are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite investment managers can outclass their index-focused peers by a very impressive margin (see just how much).

Turquoise Hill Resources Ltd (NYSE:TRQ)

Just as necessary, bullish insider trading sentiment is another way to look at the marketplace. There are a variety of incentives for an upper level exec to cut shares of his or her company, but only one, very obvious reason why they would behave bullishly. Several academic studies have demonstrated the useful potential of this tactic if you understand where to look (learn more here).

What’s more, let’s examine the latest info for Turquoise Hill Resources Ltd (NYSE:TRQ).

What have hedge funds been doing with Turquoise Hill Resources Ltd (NYSE:TRQ)?

Heading into Q3, a total of 19 of the hedge funds we track were bullish in this stock, a change of 0% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were boosting their holdings meaningfully.

When using filings from the hedgies we track, Mason Capital Management, managed by Kenneth Mario Garschina, holds the biggest position in Turquoise Hill Resources Ltd (NYSE:TRQ). Mason Capital Management has a $143.6 million position in the stock, comprising 2.9% of its 13F portfolio. The second largest stake is held by Matthew Halbower of Pentwater Capital Management, with a $68.8 million position; 1.5% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions include Rob Citrone’s Discovery Capital Management, James Dinan’s York Capital Management and Jonathon Jacobson’s Highfields Capital Management.

Because Turquoise Hill Resources Ltd (NYSE:TRQ) has experienced a fall in interest from the entirety of the hedge funds we track, logic holds that there were a few hedgies who sold off their positions entirely at the end of the second quarter. At the top of the heap, Jeffrey Vinik’s Vinik Asset Management said goodbye to the largest stake of all the hedgies we track, comprising close to $42.4 million in call options.. Bart Baum’s fund, Ionic Capital Management, also sold off its call options., about $3.9 million worth. These moves are interesting, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Insider trading activity in Turquoise Hill Resources Ltd (NYSE:TRQ)

Insider buying made by high-level executives is at its handiest when the company we’re looking at has experienced transactions within the past half-year. Over the last half-year time period, Turquoise Hill Resources Ltd (NYSE:TRQ) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Turquoise Hill Resources Ltd (NYSE:TRQ). These stocks are Central Fund of Canada Limited (USA) (NYSEAMEX:CEF), Cameco Corporation (USA) (NYSE:CCJ), CONSOL Energy Inc. (NYSE:CNX), Peabody Energy Corporation (NYSE:BTU), and Yanzhou Coal Mining Co Ltd (ADR) (NYSE:YZC). This group of stocks are in the industrial metals & minerals industry and their market caps match TRQ’s market cap.

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