State Street Corp Decreases Position in Tahoe Resources, Inc. (TAHO)
State Street Corp lowered its position in shares of Tahoe Resources, Inc. (NYSE:TAHO) (TSE:THO) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,353,260 shares of the basic materials company’s stock after selling 98,266 shares during the quarter. State Street Corp owned 1.07% of Tahoe Resources worth $28,905,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. High Pointe Capital Management LLC bought a new position in Tahoe Resources during the second quarter valued at about $106,000. Blair William & Co. IL lifted its holdings in shares of Tahoe Resources by 46.1% during the second quarter. Blair William & Co. IL now owns 19,875 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 6,275 shares during the last quarter. Fore Research & Management LP purchased a new stake in shares of Tahoe Resources during the second quarter valued at $172,000. Aperio Group LLC lifted its holdings in shares of Tahoe Resources by 16.4% during the second quarter. Aperio Group LLC now owns 20,686 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 2,916 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Tahoe Resources by 77.0% during the second quarter. M&T Bank Corp now owns 21,194 shares of the basic materials company’s stock valued at $184,000 after purchasing an additional 9,217 shares during the last quarter. 70.28% of the stock is owned by institutional investors and hedge funds.
Shares of Tahoe Resources, Inc. (TAHO) opened at $4.37 on Friday. The stock has a market capitalization of $1,366.83, a PE ratio of 11.21, a P/E/G ratio of 2.71 and a beta of 0.42. Tahoe Resources, Inc. has a one year low of $4.24 and a one year high of $11.43.
Tahoe Resources (NYSE:TAHO) (TSE:THO) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $127.12 million. Tahoe Resources had a return on equity of 4.57% and a net margin of 12.44%. The firm’s revenue was down 33.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. sell-side analysts anticipate that Tahoe Resources, Inc. will post 0.32 EPS for the current year.
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Several equities research analysts have recently commented on the company. National Bank Financial reaffirmed a “sec perform spec market wgt” rating on shares of Tahoe Resources in a report on Sunday, July 23rd. Credit Suisse Group raised Tahoe Resources from a “neutral” rating to an “outperform” rating in a report on Monday, September 11th. BMO Capital Markets raised Tahoe Resources from a “market perform” rating to an “outperform” rating in a report on Monday, September 11th. ValuEngine downgraded Tahoe Resources from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub downgraded Tahoe Resources from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $15.00.
Tahoe Resources 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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