Turquoise Hill Resources (TRQ.TO) Buy, Sell…

Turquoise Hill Resources (TRQ.TO)

43.01

+0.04 (0.09%)

as of Dec 16, 2022, 9:00:00 pm Market Open.

38 watching

HOLD

Working with Rio Tinto on a block caving project in Mongolia. This will be of enormous importance in the world. The thing to watch out for is initial production start up difficulties which mining usually has. If copper prices are sustained reasonably well, the stock should go up again.

HOLD

Fairly valued at this point. There is no doubt that Rio Tinto (RIO-N) would like to buy controlling interest. Presently owns 49%. There are several lawsuits floating around.

COMMENT

Copper is very sensitive to global economic growth. This will be slowing for the next 12 months but will continue to be positive. This company has one of the best undeveloped copper mines out there. Because it is in Mongolia, there is a lot of political risk.

COMMENT

Chart shows it is starting to pull up but has recently had a pullback. A longer-term down trend line appears to be broken. Doesn't look too bad for some short-term upside. Has resistance at around $26. A short-term trade to that area might work out, perhaps past that if there is enough volume.

DON'T BUY

World’s third biggest copper mine. Concerned about political risks. Current pressure on the stock is because the Mongolian government owns 1/3. Expect that Rio Tinto (RIO-N), which owns about 49% of Ivanhoe, will take them over. There are rumours that Mongolia is looking to take a bigger piece.

BUY ON WEAKNESS

Incredible deposit in Mongolia and it looks like Mongolia will be pro-mining for a long time. Copper has just tipped over and looks like it might be in a freefall and you don't know where it's going to land. Not happy with the political risk. If he didn't own Hudbay (HBM-T) he would start to look at this one. Would like to see it in the $15 range. (See Top Picks.)

DON'T BUY

Largest gold and copper deposit in the world, but questions is whether shareholder will get to benefit from it. Doesn’t know about Mongolia – stability of government, desire to nationalize mines, shareholder rights, etc.

DON'T BUY

There are a lot of stocks that are coming down to their support levels that we saw in the 1st half of last year. He sees support at $16 and $12. Nothing looks good about this company right now.

DON'T BUY

Looking for support at around $22 with the next level around $18. Has broken through the 125 day moving average. Has done this over a couple of weeks and the percentages go a bit beyond what he would like. Expect it will head a little bit lower.

BUY

$28 level shows a pretty good breakout point. It touched the 125-day moving average and then up. It’s a sector you want to be in after this pullback. Add to it above $28.

BUY ON WEAKNESS

One of the biggest copper mines globally. (Mongolia.) Looks like they have the ability to put it into production. Copper looks like it might want to come off so not the perfect time for them..

COMMENT

Copper/gold deposit asset in Mongolia. Rio Tinto (RIO-N) has about 49% and operates it. Well financed. There have been issues with Mongolia as to whether companies really own their claims. Massive CapX at about $6 billion and they are about half way through it. Prefers others.

HOLD

It is range bound $23-$27. If you got more of a break out, and if you are a long-term investor, there is no reason to sell this. Stick with the winners. It is likely to come back to $25 and find some support but be fantastic on a long-term basis. It may correct in time, rather than price.

BUY

It is probably a stock he should own. He is careful with metal stocks this time of year. But he is not seeing weakness in this one right now. There is lots of possibility around M&A – it gets bought by one of the big players.

BUY

It is sorting out its corporate problems. It will be one of the world’s largest mines. It will have to get into cave blasting, which is something that only 2 or 3 companies can do.

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