Tahoe Resources Inc (TAHO) Holdings Cut by ETF Managers Group LLC

ETF Managers Group LLC reduced its position in shares of Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 8.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 413,193 shares of the basic materials company’s stock after selling 39,006 shares during the period. ETF Managers Group LLC’s holdings in Tahoe Resources were worth $1,992,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Frontier Capital Management Co. LLC acquired a new position in shares of Tahoe Resources in the first quarter worth $20,889,000. Global X Management Co. LLC increased its stake in shares of Tahoe Resources by 86.0% in the fourth quarter. Global X Management Co. LLC now owns 4,305,069 shares of the basic materials company’s stock worth $20,719,000 after acquiring an additional 1,990,621 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Tahoe Resources by 5.4% in the first quarter. Van ECK Associates Corp now owns 36,963,476 shares of the basic materials company’s stock worth $173,359,000 after acquiring an additional 1,889,517 shares during the last quarter. Greywolf Capital Management LP increased its stake in shares of Tahoe Resources by 83.5% in the fourth quarter. Greywolf Capital Management LP now owns 4,000,000 shares of the basic materials company’s stock worth $19,160,000 after acquiring an additional 1,820,000 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Tahoe Resources by 105.8% in the fourth quarter. First Trust Advisors LP now owns 2,140,572 shares of the basic materials company’s stock worth $10,253,000 after acquiring an additional 1,100,615 shares during the last quarter. 64.12% of the stock is currently owned by institutional investors.

Shares of NYSE:TAHO opened at $5.12 on Thursday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 4.47 and a beta of 0.22. Tahoe Resources Inc has a 1 year low of $3.76 and a 1 year high of $9.18.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last issued its quarterly earnings data on Wednesday, May 2nd. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Tahoe Resources had a return on equity of 0.07% and a net margin of 0.04%. The business had revenue of $139.90 million during the quarter, compared to the consensus estimate of $137.42 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down 44.3% on a year-over-year basis. analysts anticipate that Tahoe Resources Inc will post 0.24 EPS for the current fiscal year.

A number of brokerages recently issued reports on TAHO. Zacks Investment Research cut shares of Tahoe Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday. TheStreet cut shares of Tahoe Resources from a “c” rating to a “d+” rating in a report on Tuesday, May 22nd. Cantor Fitzgerald began coverage on shares of Tahoe Resources in a report on Wednesday, March 28th. They issued a “buy” rating for the company. Finally, ValuEngine cut shares of Tahoe Resources from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold”.

About Tahoe Resources

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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