Tahoe Resources (TAHO) Shares Down 6.5%

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Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) shares traded down 6.5% during trading on Thursday . The stock traded as low as $2.29 and last traded at $2.31. 4,127,805 shares traded hands during trading, an increase of 30% from the average session volume of 3,165,894 shares. The stock had previously closed at $2.47.

Several research analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Tahoe Resources from $8.50 to $7.50 and set an “outperform” rating for the company in a research note on Monday, September 10th. Beacon Securities lowered shares of Tahoe Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Zacks Investment Research upgraded shares of Tahoe Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.50.

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.95 and a current ratio of 1.97.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last issued its quarterly earnings results on Tuesday, November 6th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.06). Tahoe Resources had a negative net margin of 46.41% and a negative return on equity of 2.27%. The business had revenue of $111.80 million for the quarter, compared to analyst estimates of $117.71 million. During the same quarter in the prior year, the business posted ($0.02) EPS. Tahoe Resources’s revenue for the quarter was down 28.0% compared to the same quarter last year. As a group, equities analysts expect that Tahoe Resources Inc will post -0.12 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of TAHO. Nisa Investment Advisors LLC acquired a new position in Tahoe Resources during the 2nd quarter valued at approximately $148,000. BNP Paribas Arbitrage SA increased its stake in Tahoe Resources by 54.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,467 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 12,148 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Tahoe Resources in the second quarter worth $241,000. Cubist Systematic Strategies LLC increased its stake in shares of Tahoe Resources by 284.4% in the second quarter. Cubist Systematic Strategies LLC now owns 52,269 shares of the basic materials company’s stock worth $257,000 after acquiring an additional 38,671 shares during the period. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in shares of Tahoe Resources in the third quarter worth $265,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

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Tahoe Resources Company Profile (NYSE:TAHO)

Tahoe Resources Inc, together with its subsidiaries, acquires, explores for, develops, and operates mineral properties in the Americas. It explores for silver, gold, lead, zinc, and copper deposits, as well as precious metals assets. The company holds interest in the La Arena gold mine located in the Huamachuco district of northern Peru; Shahuindo mine located in the province of Cajabamba in northern Peru; and La Arena II, a copper-gold porphyry deposit located in Peru.

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