Hedge Fund Bullishness on Metal Stocks Hits 3-Year High

4. Turquoise Hill Resources Ltd (NYSE:TRQ)

There were 22 funds bullish on Turquoise Hill Resources Ltd (NYSE:TRQ) at the end of June, compared to 20 funds a quarter earlier. The number of investors holding shares inched up by just one compared to the end of 2015, while the stock has advanced by 28% since then. Turquoise Hill Resources Ltd (NYSE:TRQ) is a copper mining company so it has been facing pressure from a depressed commodity market, but things seems to be turning around. Nevertheless, the stock is still 62% in the red over the last five years. During the second quarter, Ken Griffin’s Citadel Advisors boosted its position in Turquoise Hill Resources Ltd (NYSE:TRQ) by 570% to 3.06 million shares.

mine, copper, arizona, metals, ponds, aerial, vast, tailings, rock, concentric lines, process, deposits, minerals, porphyry, elevated, over, dump, ore, dirt, benches, above, open pit, huge, desert, molybdenum, large, geology, acidic

Tim Roberts Photography/shutterstock.com