LONDON, April 20, 2015 /PRNewswire/ --
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Investor-Edge.com has issued free post-earnings report on Turquoise Hill Resources Ltd (NYSE: TRQ). On March 24, 2015, the company reported its financial results for Q4 FY14 and full-year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Turquoise%20Hill%20Resources&d=20-Apr-2015&s=TRQ to read our free earnings review on Turquoise Hill Resources Ltd (Turquoise Hill). During Q4 FY14 and FY14, the company's total revenue was $634.1 million and $1.64 billion, respectively.
Earnings Overview
During Q4 FY14, Turquoise Hill's total revenue surged $582.6 million from $51.5 million in Q4 FY13. The company generates all its revenues from Oyu Tolgoi mine. Turquoise Hill's total revenue for Q4 FY14 missed Bloomberg analysts' forecasts of $664.3 million. In Q4 FY14, the company reported sales of 262,700 tons of concentrates from its Oyu Tolgoi mine compared to 26,400 tons in Q4 FY13.
In Q4 FY14, Turquoise Hill generated revenues worth $348.3 million through sales of copper concentrates from its Oyu Tolgoi mine compared to $37.6 million in Q4 FY13. Further, the company sold gold and silver concentrates worth $280.4 million and $5.4 million, respectively, in Q4 FY14 compared to $13.2 million and $0.8 million, respectively, in Q4 FY13. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Turquoise%20Hill%20Resources&d=20-Apr-2015&s=TRQ
For Q4 FY14, Turquoise Hill's net income from continuing operations attributable to the company came in at $118.8 million, or $0.06 per diluted share, compared $242.2 million, or $0.19 per diluted share, in Q4 FY13. Further, net income attributable to the company stood at $111.3 million, or $0.07 per diluted share, in Q4 FY14 compared to $138.4 million, or $0.11 per diluted share, in Q4 FY13. Analysts from Bloomberg had expected net income attributable to the company of $124.00 million in Q4 FY14.
During FY14, Turquoise Hill's total revenue increased by $1.59 billion as compared to $51.52 million in FY13. The company's total revenue for FY14 missed Bloomberg analysts' forecasts of $1.76 billion. Moreover, in FY14, the company's concentrate sales from its Oyu Tolgoi mine rose to 733,700 tons, exceeding annual production and much above 26,400 tons reported in FY13.
In FY14, Turquoise Hill generated revenues worth $1.01 billion through sales of copper concentrates from its Oyu Tolgoi mine versus $37.6 million in FY13. Additionally, the company sold gold and silver concentrates worth $616.1 million and $17.2 million, respectively, in FY14 compared to $13.2 million and $0.8 million in FY13. Free research on TRQ can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Turquoise%20Hill%20Resources&d=20-Apr-2015&s=TRQ
In FY14, net income from continuing operations attributable to Turquoise Hill was $141.02 million, or $0.07 per diluted share, compared $97.69 million, or $0.07 per diluted share, in FY13. Net income attributable to the company for FY14 came in at $31.77 million, or $0.02 per diluted share, compared to net loss attributable to Turquoise Hill of $112.04 million, or $0.09 loss per diluted share, in FY13. Analysts from Bloomberg had expected net income attributable to the company of $116.50 million in FY14.
For FY14, Turquoise Hill generated its first annual positive operating cash flow of $658.28 million as opposed to cash used in operating activities of $630.90 million in FY13. As at December 31, 2014, the company had cash and cash equivalents of $862.76 million compared to $56.28 million as at December 31, 2013. Sign up and read the free analyst's notes on TRQ at:
http://get.Investor-Edge.com/pdf/?c=Turquoise%20Hill%20Resources&d=20-Apr-2015&s=TRQ
In its guidance for full-year FY15, Turquoise Hill expects Oyu Tolgoi to produce 175,000 to 195,000 tons of copper concentrates and 600,000 to 700,000 ounces of gold concentrates. The company also expects to recommence its production from the high-grade core of the southwest zone in mid-FY15. Further, Turquoise Hill anticipates production distribution to be relatively similar to FY14 with production levels significantly higher in H2 FY15.
Stock Performance
On the day following the earnings release, March 25, 2015, Turquoise Hill's stock declined 4.22% to end the session at $2.95. Since then, the stock has mostly witnessed a positive momentum. However, on the last close, Friday, April 17, 2015, Turquoise Hill's shares finished 0.74% lower at $4.02. The company's shares vacillated between $3.95 and $4.06 during the trading session. A total of 2.86 million shares were traded which was below their three months average volume of 2.92 million shares. Over the last one month and over the previous three months, the company's shares have rallied 31.80% and 47.25%, respectively. Further, the stock has surged 29.68% since the start of this year. Shares in Turquoise Hill closed above their 50-day and 200-day moving averages of $3.22 and $3.30, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 76.50. Visit Investor-Edge and access the latest research on TRQ at:
http://get.Investor-Edge.com/pdf/?c=Turquoise%20Hill%20Resources&d=20-Apr-2015&s=TRQ
Sneak Peek to Corporate Insider Trading
In the last one month, Turquoise Hill has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on TRQ is available at:
http://get.Investor-Edge.com/pdf/?c=Turquoise%20Hill%20Resources&d=20-Apr-2015&s=TRQ
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