Jennison Associates LLC reduced its position in shares of Tahoe Resources, Inc. (NYSE:TAHO) by 45.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,907,735 shares of the basic materials company’s stock after selling 1,566,160 shares during the period. Jennison Associates LLC owned about 0.61% of Tahoe Resources worth $16,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of Montreal Can increased its position in Tahoe Resources by 63.5% in the second quarter. Bank of Montreal Can now owns 7,975,411 shares of the basic materials company’s stock worth $68,748,000 after buying an additional 3,097,666 shares during the period. Van ECK Associates Corp increased its position in Tahoe Resources by 15.8% in the first quarter. Van ECK Associates Corp now owns 22,597,824 shares of the basic materials company’s stock worth $181,458,000 after buying an additional 3,091,220 shares during the period. First Trust Advisors LP increased its position in Tahoe Resources by 1,604.9% in the second quarter. First Trust Advisors LP now owns 1,191,471 shares of the basic materials company’s stock worth $10,270,000 after buying an additional 1,121,587 shares during the period. Wells Fargo & Company MN increased its position in Tahoe Resources by 478.8% in the first quarter. Wells Fargo & Company MN now owns 1,034,557 shares of the basic materials company’s stock worth $8,308,000 after buying an additional 855,812 shares during the period. Finally, Bank of America Corp DE increased its position in Tahoe Resources by 249.8% in the first quarter. Bank of America Corp DE now owns 1,166,984 shares of the basic materials company’s stock worth $9,370,000 after buying an additional 833,339 shares during the period. 64.95% of the stock is owned by institutional investors and hedge funds.

Tahoe Resources, Inc. (NYSE:TAHO) opened at 4.47 on Friday. The firm has a 50-day moving average price of $5.39 and a 200-day moving average price of $7.69. The company has a market cap of $1.40 billion, a PE ratio of 8.14 and a beta of 0.47. Tahoe Resources, Inc. has a 52-week low of $4.27 and a 52-week high of $14.95.

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TAHO has been the subject of a number of analyst reports. ValuEngine raised Tahoe Resources from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research raised Tahoe Resources from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. BMO Capital Markets downgraded Tahoe Resources from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 6th. Raymond James Financial, Inc. downgraded Tahoe Resources from a “strong-buy” rating to an “outperform” rating in a research note on Friday, June 23rd. Finally, BidaskClub downgraded Tahoe Resources from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Tahoe Resources has a consensus rating of “Hold” and an average price target of $17.33.

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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Institutional Ownership by Quarter for Tahoe Resources (NYSE:TAHO)

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