June 13, 2016 / 3:32 PM / in a year

BUZZ-Turquoise Hill Resources Ltd: Best day in nearly 5 years

** Canadian copper miner’s shares up 12.2 pct at C$4.13; U.S.-listed shares up 12.5 pct at $3.24

** Both stocks rise as much as 19.3 pct, their biggest intra-day percentage gain in nearly 5 years

** Rio Tinto Plc has hired Goldman Sachs to increase its stake in Turquoise Hill and privatize the company, with the help of a potential strategic buyer, Sunday Times reported (bit.ly/1UNQI34)

** Rio Tinto owns about 51 percent of Turquoise Hill

** “It is difficult to assess the credibility of the article as similar articles have been published numerous times before,” TD Securities analysts write

** Up to Friday’s close, Toronto-listed listed stock had fallen 30 pct in past 12 months, while its U.S.-listed stock had fallen 33 pct

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