Tahoe Resources Inc (NYSE:TAHO) (TSE:THO)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $2.34 and last traded at $2.41, with a volume of 168628 shares changing hands. The stock had previously closed at $2.49.
A number of equities analysts have issued reports on TAHO shares. Zacks Investment Research raised shares of Tahoe Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 12th. BMO Capital Markets reduced 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, Beacon Securities cut shares of Tahoe Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.50.
The company has a market cap of $789.55 million, a PE ratio of 9.15 and a beta of 0.32. 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 quarterly earnings data on Tuesday, November 6th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Tahoe Resources had a negative net margin of 9.04% and a negative return on equity of 1.80%. The firm had revenue of $111.80 million for the quarter, compared to analysts’ expectations of $117.71 million. During the same period last year, the firm earned ($0.02) earnings per share. The business’s revenue for the quarter was down 28.0% on a year-over-year basis. As a group, equities analysts predict that Tahoe Resources Inc will post -0.12 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted 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 purchasing an additional 8,000,137 shares in the last quarter. Jane Street Group LLC boosted 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 purchasing an additional 92,060 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Tahoe Resources during the second quarter worth $148,000. Voya Investment Management LLC boosted its position in shares of Tahoe Resources by 45.4% during the second quarter. Voya Investment Management LLC now owns 118,524 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 37,035 shares in the last quarter. Finally, Rhumbline Advisers boosted 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 purchasing an additional 25,216 shares in the last quarter. 64.00% of the stock is currently owned by institutional investors.
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About Tahoe Resources (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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