CIBC Asset Management Inc boosted its holdings in Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 180.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 722,504 shares of the basic materials company’s stock after acquiring an additional 464,850 shares during the quarter. CIBC Asset Management Inc owned 0.23% of Tahoe Resources worth $1,996,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of TAHO. BlackRock Inc. increased its stake in Tahoe Resources by 0.7% in the first quarter. BlackRock Inc. now owns 6,689,837 shares of the basic materials company’s stock valued at $31,374,000 after acquiring an additional 43,641 shares during the period. Millennium Management LLC bought a new stake in Tahoe Resources in the first quarter valued at about $6,797,000. Bank of Montreal Can increased its stake in Tahoe Resources by 3.4% in the second quarter. Bank of Montreal Can now owns 2,827,554 shares of the basic materials company’s stock valued at $13,912,000 after acquiring an additional 93,863 shares during the period. Nwam LLC increased its stake in Tahoe Resources by 56.4% in the second 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, Nisa Investment Advisors LLC bought a new stake in Tahoe Resources in the second quarter valued at about $148,000. 64.00% of the stock is currently owned by institutional investors and hedge funds.
NYSE TAHO opened at $2.31 on Friday. The stock has a market capitalization of $780.15 million, a P/E ratio of 8.56 and a beta of 0.32. Tahoe Resources Inc has a twelve month low of $2.23 and a twelve month high of $5.63. The company has a current ratio of 1.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03.
Tahoe Resources (NYSE:TAHO) (TSE:THO) last issued its quarterly earnings data on Tuesday, November 6th. The basic materials company reported ($0.06) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The firm had revenue of $111.80 million for the quarter, compared to analysts’ expectations of $117.71 million. Tahoe Resources had a negative net margin of 46.41% and a negative return on equity of 2.27%. The company’s quarterly revenue was down 28.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, research analysts anticipate that Tahoe Resources Inc will post -0.12 earnings per share for the current fiscal year.
A number of research firms recently weighed in on TAHO. BMO Capital Markets lowered their target price 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. Beacon Securities cut shares of Tahoe Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Tahoe Resources has a consensus rating of “Hold” and a consensus target price of $7.50.
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Tahoe Resources 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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