OppenheimerFunds Inc. cut its holdings in Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 80.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 342,011 shares of the basic materials company’s stock after selling 1,447,989 shares during the quarter. OppenheimerFunds Inc. owned about 0.11% of Tahoe Resources worth $1,638,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Eagle Investment Management LLC increased its stake in Tahoe Resources by 11.7% in the third quarter. First Eagle Investment Management LLC now owns 7,516,667 shares of the basic materials company’s stock valued at $39,540,000 after purchasing an additional 789,498 shares during the period. BlackRock Inc. increased its stake in Tahoe Resources by 1.1% in the fourth quarter. BlackRock Inc. now owns 6,646,196 shares of the basic materials company’s stock valued at $31,835,000 after purchasing an additional 71,070 shares during the period. Global X Management Co. LLC increased its stake in 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 valued at $20,719,000 after purchasing an additional 1,990,621 shares during the period. Schroder Investment Management Group increased its stake in Tahoe Resources by 34.6% in the fourth quarter. Schroder Investment Management Group now owns 4,267,144 shares of the basic materials company’s stock valued at $25,730,000 after purchasing an additional 1,097,100 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Tahoe Resources by 782.6% in the third quarter. Russell Investments Group Ltd. now owns 2,223,130 shares of the basic materials company’s stock valued at $11,672,000 after purchasing an additional 1,971,259 shares during the period. Institutional investors own 62.94% of the company’s stock.
A number of research analysts have commented on the stock. ValuEngine lowered shares of Tahoe Resources from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered shares of Tahoe Resources from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Finally, Credit Suisse Group lowered shares of Tahoe Resources from an “outperform” rating to a “neutral” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Tahoe Resources currently has an average rating of “Hold”.
Shares of TAHO stock traded up $0.09 during trading on Wednesday, hitting $4.77. 749,955 shares of the stock were exchanged, compared to its average volume of 3,180,756. Tahoe Resources Inc has a twelve month low of $3.76 and a twelve month high of $9.68. The firm has a market capitalization of $1,491.94, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.53 and a beta of 0.25.
Tahoe Resources (NYSE:TAHO) (TSE:THO) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The firm had revenue of $117.70 million for the quarter, compared to analyst estimates of $129.88 million. Tahoe Resources had a return on equity of 3.18% and a net margin of 11.15%. The company’s revenue was down 37.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. analysts expect that Tahoe Resources Inc will post 0.27 earnings per share for the current fiscal year.
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Tahoe Resources Company Profile
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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