Advisors Asset Management Inc. lessened its holdings in shares of Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 65.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,342 shares of the basic materials company’s stock after selling 43,677 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tahoe Resources were worth $268,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its position in Tahoe Resources by 0.7% during the first quarter. BlackRock Inc. now owns 6,689,837 shares of the basic materials company’s stock valued at $31,374,000 after buying an additional 43,641 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Tahoe Resources by 117,368.4% during the first quarter. BNP Paribas Arbitrage SA now owns 22,319 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 22,300 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Tahoe Resources by 107.8% during the first quarter. OppenheimerFunds Inc. now owns 710,578 shares of the basic materials company’s stock worth $3,333,000 after purchasing an additional 368,567 shares during the period. Natixis purchased a new stake in shares of Tahoe Resources during the first quarter worth about $389,000. Finally, Guggenheim Capital LLC boosted its holdings in shares of Tahoe Resources by 52.6% during the first quarter. Guggenheim Capital LLC now owns 1,195,626 shares of the basic materials company’s stock worth $5,607,000 after purchasing an additional 412,192 shares during the period. 64.62% of the stock is owned by hedge funds and other institutional investors.
Tahoe Resources stock opened at $2.93 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.03. The stock has a market cap of $874.15 million, a PE ratio of 10.85 and a beta of 0.20. Tahoe Resources Inc has a 1-year low of $2.55 and a 1-year high of $5.63.
Tahoe Resources (NYSE:TAHO) (TSE:THO) last posted its earnings results on Wednesday, August 1st. The basic materials company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). The firm had revenue of $127.13 million for the quarter, compared to analysts’ expectations of $129.33 million. Tahoe Resources had a negative return on equity of 1.80% and a negative net margin of 9.04%. The business’s revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. Sell-side analysts predict that Tahoe Resources Inc will post -0.08 earnings per share for the current year.
A number of analysts have recently weighed in on TAHO shares. Zacks Investment Research upgraded shares of Tahoe Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 12th. BMO Capital Markets dropped their target price on shares of Tahoe Resources from $8.50 to $7.50 and set an “outperform” rating for the company in a 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. Finally, ValuEngine upgraded shares of Tahoe Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, June 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $7.50.
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.
See Also: Average Daily Trade Volume – What It Means In Stock Trading
Want to see what other hedge funds are holding TAHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tahoe Resources Inc (NYSE:TAHO) (TSE:THO).
Receive News & Ratings for Tahoe Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tahoe Resources and related companies with MarketBeat.com's FREE daily email newsletter.