Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) shares were down 5.5% on Tuesday . The stock traded as low as $4.64 and last traded at $4.66. Approximately 3,925,577 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 2,835,008 shares. The stock had previously closed at $4.93.
Separately, BidaskClub downgraded Tahoe Resources from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Tahoe Resources has a consensus rating of “Hold”.
The stock has a market capitalization of $1,460.00, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 2.11 and a beta of 0.38.
Several institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its stake in shares of 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 buying an additional 789,498 shares in the last quarter. Vanguard Group Inc. raised its holdings in Tahoe Resources by 5.8% during the second quarter. Vanguard Group Inc. now owns 6,535,633 shares of the basic materials company’s stock worth $56,338,000 after purchasing an additional 355,413 shares during the last quarter. Schroder Investment Management Group raised its holdings in Tahoe Resources by 868.3% during the third quarter. Schroder Investment Management Group now owns 3,170,044 shares of the basic materials company’s stock worth $20,352,000 after purchasing an additional 2,842,653 shares during the last quarter. Intact Investment Management Inc. raised its holdings in Tahoe Resources by 82.1% during the third quarter. Intact Investment Management Inc. now owns 3,124,800 shares of the basic materials company’s stock worth $20,436,000 after purchasing an additional 1,409,240 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC raised its holdings in Tahoe Resources by 8.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,314,448 shares of the basic materials company’s stock worth $12,140,000 after purchasing an additional 175,177 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.
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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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