Tahoe Resources Inc (THO) Stock Price Down 4.4% Following Analyst Downgrade
Tahoe Resources Inc (TSE:THO) (NASDAQ:TAHO)’s share price dropped 4.4% during trading on Wednesday after BMO Capital Markets lowered their price target on the stock from C$10.00 to C$7.00. BMO Capital Markets currently has an outperform rating on the stock. Tahoe Resources traded as low as C$7.20 and last traded at C$7.20. Approximately 2,329,403 shares traded hands during trading, an increase of 52% from the average daily volume of 1,536,630 shares. The stock had previously closed at C$7.53.
A number of other equities analysts have also recently commented on the company. Royal Bank Of Canada lowered their price target on Tahoe Resources from C$15.00 to C$10.00 and set a “sector perform” rating for the company in a report on Friday, July 7th. National Bank Financial lowered their price target on Tahoe Resources from C$8.50 to C$7.50 and set a “sector perform” rating for the company in a report on Friday, August 25th. Raymond James Financial, Inc. lowered their price target on Tahoe Resources from C$15.75 to C$10.75 and set a “market perform” rating for the company in a report on Friday, July 7th. TD Securities lowered their price target on Tahoe Resources from C$16.00 to C$10.50 and set a “hold” rating for the company in a report on Thursday, July 6th. Finally, CSFB upgraded Tahoe Resources from a “neutral” rating to an “outperform” rating and set a C$9.25 price objective on the stock in a research report on Monday. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$10.50.
In other news, Director Ronald Wayne Clayton acquired 20,000 shares of Tahoe Resources stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of C$5.55 per share, for a total transaction of C$111,000.00. Also, insider James Voorhees acquired 5,000 shares of Tahoe Resources stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average price of C$5.41 per share, for a total transaction of C$27,050.00.
The firm has a 50 day moving average price of $6.57 and a 200 day moving average price of $9.73. The stock has a market cap of $2.25 billion and a price-to-earnings ratio of 13.11.
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Tahoe Resources Company Profile
Tahoe Resources Inc is a mine operations, and mineral exploration and development company. The Company’s principal business activities are the exploration, development, operation and acquisition of mineral properties for the mining of precious metals in the Americas. Its business involves operating the Escobal mine, a silver mining operation located in southeastern Guatemala, the La Arena and Shahuindo mines, gold mining operations located in northwestern Peru, and the Bell Creek mine and mill and the Timmins West mine, gold mining operations located in northeastern Ontario, Canada.
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