Long Position on TRQ @ $19.00 on 4/16/2021 (Fundamentals)

Turquoise Hill Resources Ltd. (TRQ), together with its subsidiaries, operates as a mining company.

The company explores for copper, gold, and silver deposits. It develops and operates the Oyu Tolgoi copper-gold mine located in Southern Mongolia.

The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd. in August 2012. Turquoise Hill Resources Ltd. was incorporated in 1994 and is headquartered in Montreal, Canada.

Turquoise Hill Resources reported Quarter December 2020 earnings of $0.79 per share on revenue of $405.1 million.. Revenue grew 83.0% on a year-over-year basis.

Turquoise Hill is a major producer of coal and zinc, two resources with distinctly different futures. While headlines are already touting the end of coal, zinc is a mineral that will play a key role in the future of energy for years and years to come.

In addition to its zinc operations, Turquoise Hill is also a significant producer of Uranium. Uranium is a key material in the production of nuclear energy, which many analysts are suggesting could be a major component in the global transition to cleaner energy. While the mineral has not seen significant price action in recent years, there are a number of new projects set to come online across the globe in the medium-term, which could be a boon to Turquoise Hill.

Though 2019 was a particularly rough year for Turquoise Hill, its downturn led to an opportunity for new shareholders to get in on the company at reduced prices. Since dropping from all-time highs and settling at a low of just $5, Turquoise Hill has outperformed many of its peers, climbing by nearly 150% in 2020 alone.

Share prices should continue to rise as it breaks out it's "bullish cup and handle" formation.

Entry Point: $19.00

Trading Range: $4.40 - $19.62

Target Price: $21.00

Stop/loss: $18.00

Position closed on 9/1/2021 at price of $18.00 with a -5.26% loss in 138 days.

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