Tahoe Resources Inc (TAHO) Receives $7.50 Average Target Price from Analysts

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Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) has earned an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.50.

Several research firms have recently commented on TAHO. Zacks Investment Research upgraded Tahoe Resources from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Canaccord Genuity reiterated a “buy” rating on shares of Tahoe Resources in a report on Tuesday, November 13th. Beacon Securities lowered Tahoe Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, BMO Capital Markets reduced their price target on Tahoe Resources from $8.50 to $7.50 and set an “outperform” rating on the stock in a report on Monday, September 10th.

Shares of TAHO stock opened at $3.66 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.82 and a quick ratio of 0.74. Tahoe Resources has a fifty-two week low of $2.17 and a fifty-two week high of $5.63.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last announced its quarterly earnings data on Tuesday, November 6th. The basic materials company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $111.80 million for the quarter, compared to analyst estimates of $117.71 million. Tahoe Resources had a negative return on equity of 2.31% and a negative net margin of 46.41%. The firm’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. Equities research analysts predict that Tahoe Resources will post -0.15 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Tahoe Resources by 119.6% in the 2nd quarter. BlackRock Inc. now owns 14,689,974 shares of the basic materials company’s stock valued at $72,275,000 after buying an additional 8,000,137 shares during the period. Voya Investment Management LLC raised its holdings in Tahoe Resources by 45.4% in the 2nd quarter. Voya Investment Management LLC now owns 118,524 shares of the basic materials company’s stock valued at $583,000 after buying an additional 37,035 shares during the period. Jane Street Group LLC raised its holdings in Tahoe Resources by 45.0% in the 2nd quarter. Jane Street Group LLC now owns 296,654 shares of the basic materials company’s stock valued at $1,459,000 after buying an additional 92,060 shares during the period. Rhumbline Advisers raised its holdings in Tahoe Resources by 9.0% in the 2nd quarter. Rhumbline Advisers now owns 304,675 shares of the basic materials company’s stock valued at $1,499,000 after buying an additional 25,216 shares during the period. Finally, Arnhold LLC raised its holdings in Tahoe Resources by 167.9% in the 3rd quarter. Arnhold LLC now owns 953,675 shares of the basic materials company’s stock valued at $2,661,000 after buying an additional 597,675 shares during the period. Hedge funds and other institutional investors own 67.12% of the company’s stock.

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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Analyst Recommendations for Tahoe Resources (NYSE:TAHO)

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