Zacks Investment Research upgraded shares of Tahoe Resources (NYSE:TAHO) (TSE:THO) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Tahoe Resources Inc. is engaged in the exploration and development of mineral properties in the United States for the mining of precious metals. It principally holds interests in the Escobal project located in southeastern Guatemala. Tahoe Resources Inc. is headquartered in Reno, Nevada. “
TAHO has been the topic of several other reports. ValuEngine cut shares of Tahoe Resources from a sell rating to a strong sell rating in a research note on Friday, June 22nd. Beacon Securities cut shares of Tahoe Resources from a buy rating to a hold rating in a research note on Tuesday, September 4th. BMO Capital Markets dropped their price objective on shares of Tahoe Resources from $8.50 to $7.50 and set an outperform rating on the stock in a research note on Monday, September 10th. Finally, TheStreet cut shares of Tahoe Resources from a c rating to a d+ rating in a research note on Tuesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Tahoe Resources has an average rating of Hold and an average target price of $7.50.
Shares of Tahoe Resources stock opened at $2.68 on Wednesday. The firm has a market capitalization of $883.54 million, a PE ratio of 9.93 and a beta of 0.18. Tahoe Resources has a 12 month low of $2.55 and a 12 month high of $5.86. 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 announced its earnings results on Wednesday, August 1st. The basic materials company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $127.13 million during the quarter, compared to analyst estimates of $129.33 million. Tahoe Resources had a negative net margin of 9.04% and a negative return on equity of 1.80%. The business’s revenue was down 39.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 earnings per share. equities research analysts expect that Tahoe Resources will post -0.08 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC acquired a new position in Tahoe Resources in the 2nd quarter valued at $148,000. Bank of Montreal Can increased its stake in Tahoe Resources by 3.4% in the 2nd quarter. Bank of Montreal Can now owns 2,827,554 shares of the basic materials company’s stock valued at $13,912,000 after buying an additional 93,863 shares during the period. BNP Paribas Arbitrage SA increased its stake in Tahoe Resources by 54.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,467 shares of the basic materials company’s stock valued at $170,000 after buying an additional 12,148 shares during the period. Toronto Dominion Bank increased its stake in Tahoe Resources by 19.4% in the 2nd quarter. Toronto Dominion Bank now owns 597,970 shares of the basic materials company’s stock valued at $2,921,000 after buying an additional 96,996 shares during the period. Finally, American Century Companies Inc. increased its stake in Tahoe Resources by 119.6% in the 1st quarter. American Century Companies Inc. now owns 905,168 shares of the basic materials company’s stock valued at $4,246,000 after buying an additional 492,968 shares during the period. 65.25% of the stock is currently owned by institutional investors.
About Tahoe Resources
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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