Tahoe Resources (TAHO) Shares Gap Up to $2.89

Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) shares gapped up before the market opened on Thursday . The stock had previously closed at $2.83, but opened at $2.89. Tahoe Resources shares last traded at $2.97, with a volume of 4810224 shares changing hands.

Several research analysts have recently weighed in on TAHO shares. BMO Capital Markets lowered their price target on shares of Tahoe Resources from $8.50 to $7.50 and set an “outperform” rating on the stock in a research report on Monday, September 10th. Beacon Securities lowered shares of Tahoe Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. ValuEngine lowered shares of Tahoe Resources from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Finally, Zacks Investment Research lowered shares of Tahoe Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.50.

The firm has a market cap of $874.15 million, a PE ratio of 10.85 and a beta of 0.20. The company has a current ratio of 1.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $127.13 million during the quarter, compared to analysts’ expectations of $129.33 million. Tahoe Resources had a negative net margin of 9.04% and a negative return on equity of 1.80%. The firm’s quarterly revenue was down 39.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. As a group, analysts forecast that Tahoe Resources Inc will post -0.08 EPS for the current year.

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in shares of Tahoe Resources during the second quarter worth about $148,000. Rhumbline Advisers grew its position in shares of Tahoe Resources by 9.0% during the second quarter. Rhumbline Advisers now owns 304,675 shares of the basic materials company’s stock worth $1,499,000 after buying an additional 25,216 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Tahoe Resources by 284.4% during the second quarter. Cubist Systematic Strategies LLC now owns 52,269 shares of the basic materials company’s stock worth $257,000 after buying an additional 38,671 shares in the last quarter. BlackRock Inc. grew its position in shares of Tahoe Resources by 119.6% during the second quarter. BlackRock Inc. now owns 14,689,974 shares of the basic materials company’s stock worth $72,275,000 after buying an additional 8,000,137 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Tahoe Resources by 45.0% during the second quarter. Jane Street Group LLC now owns 296,654 shares of the basic materials company’s stock worth $1,459,000 after buying an additional 92,060 shares in the last quarter. Institutional investors own 64.62% of the company’s stock.

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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