5 Undervalued Stocks to Buy According to Billionaire Paul Tudor Jones

1. Turquoise Hill Resources Ltd. (NYSE:TRQ)

Number of Hedge Fund Holders: 21

Tudor Investment Corp’s Holdings: $20,742,000

Percentage of Tudor Investment Corp’s Portfolio: 0.48%

PE Ratio as of July 1: 9.55

Return since June 30th: 14.5%

Turquoise Hill Resources Ltd. (NYSE:TRQ) is a Montreal, Canada-based mineral exploration and development entity. The company is a majority-owned subsidiary of Rio Tinto Group (NYSE:RIO). The Anglo-Australian metals and mining company is in a takeover battle for the remaining 49% stake of the company.

In Q1 2022, Turquoise Hill Resources Ltd. (NYSE:TRQ) recorded an EPS Normalized Actual of $1.37, beating the analysts’ estimates by $1.04. Furthermore, the company posted revenue of $402.65 million, outperforming the consensus estimate by $24.28 million.

On June 12, Orest Wowkodaw at Scotiabank upgraded Turquoise Hill Resources Ltd. (NYSE:TRQ) from Sector Perform to Outperform with a price target of C$44. The analyst shared that he views Turquoise Hill Resources Ltd.’s (NYSE:TRQ) risk/reward profile as “significantly more attractive” after the company’s Phase 2 CAPEX was lower than expected. This is because Wowkodaw believes that the investment proposition has a lower risk attached to it now.

On March 14, Rio Tinto presented an all-cash proposal to acquire the remaining ownership of Turquoise Hill Resources Ltd. (NYSE:TRQ). The takeover of Turquoise Hill Resources will give Rio Tinto complete ownership of Mongolia’s Oyu Tolgoi copper mine, which is 66% owned by the Canadian corporation. Rio Tinto has offered C$34 ($26.38) per share in cash, but analysts and shareholders think that the offer is too low as the stock is currently trading around the offer price.

As of Q1 2022, 22 hedge funds held a stake in Turquoise Hill Resources Ltd. (NYSE:TRQ).

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