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TRQ - Turquoise Hill Will Come A Cropper With Falling Copper
Turquoise Hill Resources Ltd.
Thesis
In my last article on Turquoise Hill Resources (TRQ), I warned readers not to be deceived by the stock's low prices. In addition to weak fundamentals plagued by multiple internal and external risk factors (that undermine an otherwise significant resource project), I indicated that depressed copper prices will be key to share price volatility and that FY 2020 will likely turn out to be another disappointing year. The share price has dropped by >25% since then, and I believe it's high time to consider how TRQ fares at current prices.