Tahoe Resources (TAHO) Stock Price Up 9.2%

Tahoe Resources Inc (NYSE:TAHO) (TSE:THO)’s share price rose 9.2% on Friday . The stock traded as high as $2.91 and last traded at $2.84. Approximately 12,021,202 shares changed hands during mid-day trading, an increase of 288% from the average daily volume of 3,097,306 shares. The stock had previously closed at $2.60.

TAHO has been the subject of several recent research reports. TheStreet cut Tahoe Resources from a “c” rating to a “d+” rating in a research report on Tuesday, May 22nd. Zacks Investment Research cut Tahoe Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 13th. ValuEngine upgraded Tahoe Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th. Finally, Beacon Securities cut Tahoe Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Tahoe Resources presently has an average rating of “Hold”.

The stock has a market cap of $855.34 million, a price-to-earnings ratio of 9.74 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.03.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.02). The company had revenue of $127.13 million during the quarter, compared to analysts’ expectations of $129.33 million. Tahoe Resources had a negative net margin of 9.04% and a negative return on equity of 1.80%. Tahoe Resources’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. analysts expect that Tahoe Resources Inc will post -0.05 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in TAHO. Private Advisor Group LLC bought a new stake in Tahoe Resources during the first quarter valued at $101,000. BNP Paribas Arbitrage SA boosted its stake in Tahoe Resources by 117,368.4% during the first quarter. BNP Paribas Arbitrage SA now owns 22,319 shares of the basic materials company’s stock valued at $105,000 after buying an additional 22,300 shares during the period. Nisa Investment Advisors LLC bought a new stake in Tahoe Resources during the second quarter valued at $148,000. Renaissance Technologies LLC boosted its stake in Tahoe Resources by 68.2% during the fourth quarter. Renaissance Technologies LLC now owns 46,900 shares of the basic materials company’s stock valued at $226,000 after buying an additional 19,023 shares during the period. Finally, Bourgeon Capital Management LLC bought a new stake in Tahoe Resources during the second quarter valued at $241,000. Institutional investors own 65.24% of the company’s stock.

Tahoe Resources Company Profile (NYSE:TAHO)

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.

Read More: Price to Earnings Ratio (PE)

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