Tahoe Resources Sees Unusually Large Options Volume (NYSE:TAHO)

Tahoe Resources (NYSE:TAHO) (TSE:THO) was the target of some unusual options trading on Tuesday. Stock traders acquired 764 put options on the stock. This is an increase of 1,342% compared to the average volume of 53 put options.

Tahoe Resources stock opened at $5.04 on Wednesday. The company has a market cap of $1,573.26, a P/E ratio of 18.63, a P/E/G ratio of 4.52 and a beta of 0.18. Tahoe Resources has a one year low of $3.76 and a one year high of $9.68.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Tahoe Resources had a return on equity of 3.18% and a net margin of 11.15%. The company had revenue of $117.70 million for the quarter, compared to analyst estimates of $129.88 million. During the same period last year, the firm posted $0.06 earnings per share. The business’s revenue was down 37.9% on a year-over-year basis. analysts predict that Tahoe Resources will post 0.22 earnings per share for the current fiscal year.

TAHO has been the topic of several research analyst reports. Zacks Investment Research lowered Tahoe Resources from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Cantor Fitzgerald initiated coverage on Tahoe Resources in a research note on Wednesday, March 28th. They issued a “buy” rating on the stock. Credit Suisse Group lowered Tahoe Resources from an “outperform” rating to a “neutral” rating in a research note on Friday, January 26th. Finally, ValuEngine lowered Tahoe Resources from a “sell” rating to a “strong sell” rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold”.

Hedge funds have recently bought and sold shares of the business. Two Sigma Securities LLC purchased a new stake in Tahoe Resources during the 4th quarter worth approximately $113,000. Bourgeon Capital Management LLC purchased a new stake in Tahoe Resources during the 4th quarter worth approximately $120,000. Tower Research Capital LLC TRC increased its holdings in Tahoe Resources by 454.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,127 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 22,234 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Tahoe Resources during the 4th quarter worth approximately $132,000. Finally, MANA Advisors LLC purchased a new stake in Tahoe Resources during the 4th quarter worth approximately $136,000. Institutional investors own 62.93% of the company’s stock.

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Tahoe Resources Company 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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