Shares of Tahoe Resources Inc (NYSE:TAHO) have earned an average recommendation of “Buy” from the nine analysts that are presently covering the company. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.50.
TAHO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Tahoe Resources from an “overweight” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Tuesday, January 10th. Zacks Investment Research cut Tahoe Resources from a “hold” rating to a “sell” rating in a research note on Friday, January 13th. Finally, Raymond James Financial, Inc. upgraded Tahoe Resources from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, April 5th.
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Shares of Tahoe Resources (NYSE:TAHO) traded up 1.05% on Tuesday, hitting $8.68. 1,890,906 shares of the stock were exchanged. The company has a 50 day moving average of $8.03 and a 200 day moving average of $9.44. Tahoe Resources has a 52-week low of $7.12 and a 52-week high of $17.01. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 21.33 and a beta of 0.47.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 27th. Stockholders of record on Thursday, April 20th will be paid a $0.02 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Tuesday, April 18th. Tahoe Resources’s payout ratio is -480.00%.
A number of hedge funds have recently bought and sold shares of the company. Nikko Asset Management Americas Inc. raised its stake in Tahoe Resources by 13.7% in the third quarter. Nikko Asset Management Americas Inc. now owns 1,030,850 shares of the basic materials company’s stock valued at $13,215,000 after buying an additional 124,100 shares during the period. Great West Life Assurance Co. Can raised its stake in Tahoe Resources by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 475,096 shares of the basic materials company’s stock valued at $6,098,000 after buying an additional 7,574 shares during the period. FMR LLC raised its stake in Tahoe Resources by 19.9% in the fourth quarter. FMR LLC now owns 32,126,807 shares of the basic materials company’s stock valued at $302,687,000 after buying an additional 5,323,531 shares during the period. Credit Agricole S A raised its stake in Tahoe Resources by 5.1% in the fourth quarter. Credit Agricole S A now owns 748,800 shares of the basic materials company’s stock valued at $7,053,000 after buying an additional 36,300 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Tahoe Resources during the fourth quarter valued at approximately $5,054,000. 62.18% of the stock is currently owned by hedge funds and other institutional investors.
About Tahoe Resources
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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