Bridgeway Capital Management Inc. Invests $837,000 in Tahoe Resources Inc (TAHO)

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Bridgeway Capital Management Inc. purchased a new position in Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) in the third quarter, Holdings Channel reports. The fund purchased 300,000 shares of the basic materials company’s stock, valued at approximately $837,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Tahoe Resources by 119.6% in the second quarter. BlackRock Inc. now owns 14,689,974 shares of the basic materials company’s stock valued at $72,275,000 after purchasing an additional 8,000,137 shares during the period. Voya Investment Management LLC grew its position in shares of Tahoe Resources by 45.4% in the second quarter. Voya Investment Management LLC now owns 118,524 shares of the basic materials company’s stock valued at $583,000 after purchasing an additional 37,035 shares during the period. Jane Street Group LLC grew its position in shares of Tahoe Resources by 45.0% in the second quarter. Jane Street Group LLC now owns 296,654 shares of the basic materials company’s stock valued at $1,459,000 after purchasing an additional 92,060 shares during the period. Rhumbline Advisers grew its position in shares of Tahoe Resources by 9.0% in the second quarter. Rhumbline Advisers now owns 304,675 shares of the basic materials company’s stock valued at $1,499,000 after purchasing an additional 25,216 shares during the period. Finally, Arnhold LLC grew its position in shares of Tahoe Resources by 167.9% in the third quarter. Arnhold LLC now owns 953,675 shares of the basic materials company’s stock valued at $2,661,000 after purchasing an additional 597,675 shares during the period. 67.12% of the stock is owned by institutional investors.

TAHO stock opened at $3.57 on Friday. Tahoe Resources Inc has a 12-month low of $2.17 and a 12-month high of $5.63. The company has a quick ratio of 0.74, a current ratio of 1.82 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 13.22 and a beta of 0.46.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last issued its earnings results on Tuesday, November 6th. The basic materials company reported ($0.06) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). Tahoe Resources had a negative return on equity of 2.31% and a negative net margin of 46.41%. The company had revenue of $111.80 million during the quarter, compared to the consensus estimate of $117.71 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The company’s revenue was down 28.0% compared to the same quarter last year. On average, research analysts anticipate that Tahoe Resources Inc will post -0.15 earnings per share for the current year.

TAHO has been the subject of a number of research reports. Zacks Investment Research raised Tahoe Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. BMO Capital Markets lowered their price target on Tahoe Resources from $8.50 to $7.50 and set an “outperform” rating for the company in a research report on Monday, September 10th. Beacon Securities downgraded Tahoe Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Tahoe Resources in a research report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.

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Tahoe Resources Profile

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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Institutional Ownership by Quarter for Tahoe Resources (NYSE:TAHO)

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