Bank of America Corp DE Cuts Stake in Tahoe Resources Inc (TAHO)

Bank of America Corp DE reduced its position in Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 16.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436,332 shares of the basic materials company’s stock after selling 85,510 shares during the quarter. Bank of America Corp DE owned 0.14% of Tahoe Resources worth $2,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its holdings in shares of Tahoe Resources by 54.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,467 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 12,148 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in Tahoe Resources by 11.2% during the 2nd quarter. Wedbush Securities Inc. now owns 151,680 shares of the basic materials company’s stock valued at $746,000 after acquiring an additional 15,330 shares during the period. CIBC Asset Management Inc boosted its holdings in Tahoe Resources by 8.3% during the 2nd quarter. CIBC Asset Management Inc now owns 257,654 shares of the basic materials company’s stock valued at $1,268,000 after acquiring an additional 19,765 shares during the period. Nwam LLC boosted its holdings in Tahoe Resources by 56.4% during the 2nd quarter. Nwam LLC now owns 56,418 shares of the basic materials company’s stock valued at $278,000 after acquiring an additional 20,336 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Tahoe Resources by 9.0% during the 2nd quarter. Rhumbline Advisers now owns 304,675 shares of the basic materials company’s stock valued at $1,499,000 after acquiring an additional 25,216 shares during the period. Hedge funds and other institutional investors own 64.00% of the company’s stock.

Several equities research analysts recently weighed in on the company. Beacon Securities cut Tahoe Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. BMO Capital Markets dropped their target price on Tahoe Resources from $8.50 to $7.50 and set an “outperform” rating for the company in a report on Monday, September 10th. Finally, Zacks Investment Research upgraded Tahoe Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.50.

Shares of TAHO stock opened at $2.31 on Friday. The stock has a market cap of $780.15 million, a P/E ratio of 8.56 and a beta of 0.32. Tahoe Resources Inc has a 1-year low of $2.23 and a 1-year high of $5.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.97 and a quick ratio of 0.95.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last issued its earnings results on Tuesday, November 6th. The basic materials company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $111.80 million during the quarter, compared to analysts’ expectations of $117.71 million. Tahoe Resources had a negative return on equity of 2.27% and a negative net margin of 46.41%. Tahoe Resources’s quarterly revenue was down 28.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. As a group, equities research analysts expect that Tahoe Resources Inc will post -0.12 EPS for the current fiscal year.

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Tahoe Resources Company Profile

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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