Geode Capital Management LLC Sells 38,958 Shares of Tahoe Resources (TAHO)

Geode Capital Management LLC lowered its stake in shares of Tahoe Resources (NYSE:TAHO) (TSE:THO) by 5.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 711,214 shares of the basic materials company’s stock after selling 38,958 shares during the quarter. Geode Capital Management LLC’s holdings in Tahoe Resources were worth $3,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Globeflex Capital L P acquired a new position in Tahoe Resources during the fourth quarter worth $198,000. Greywolf Capital Management LP boosted its stake in Tahoe Resources by 83.5% during the fourth quarter. Greywolf Capital Management LP now owns 4,000,000 shares of the basic materials company’s stock worth $19,160,000 after buying an additional 1,820,000 shares during the last quarter. Ninepoint Partners LP boosted its stake in Tahoe Resources by 3.4% during the fourth quarter. Ninepoint Partners LP now owns 563,700 shares of the basic materials company’s stock worth $2,700,000 after buying an additional 18,400 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Tahoe Resources during the fourth quarter worth $887,000. Finally, Royce & Associates LP acquired a new position in Tahoe Resources during the fourth quarter worth $1,317,000. 62.93% of the stock is currently owned by institutional investors.

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NYSE:TAHO opened at $5.40 on Monday. Tahoe Resources has a 52 week low of $3.76 and a 52 week high of $9.68. The firm has a market capitalization of $1,688.99, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 4.85 and a beta of 0.18.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last posted its earnings results on Thursday, February 22nd. The basic materials company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). Tahoe Resources had a net margin of 11.15% and a return on equity of 3.18%. The business had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $129.88 million. During the same quarter in the prior year, the firm earned $0.06 EPS. Tahoe Resources’s revenue for the quarter was down 37.9% compared to the same quarter last year. equities research analysts expect that Tahoe Resources will post 0.22 EPS for the current fiscal year.

TAHO has been the topic of a number of recent research reports. Zacks Investment Research lowered Tahoe Resources from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Credit Suisse Group lowered Tahoe Resources from an “outperform” rating to a “neutral” rating in a research note on Friday, January 26th. ValuEngine downgraded Tahoe Resources from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Cantor Fitzgerald started coverage on Tahoe Resources in a research report on Wednesday, March 28th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold”.

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

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