Gabelli Funds LLC Buys 213,000 Shares of Tahoe Resources, Inc. (TAHO)
Gabelli Funds LLC grew its stake in shares of Tahoe Resources, Inc. (NYSE:TAHO) (TSE:THO) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,313,000 shares of the basic materials company’s stock after acquiring an additional 213,000 shares during the period. Gabelli Funds LLC owned 0.42% of Tahoe Resources worth $6,920,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. High Pointe Capital Management LLC purchased a new stake in shares of Tahoe Resources in the second quarter worth $106,000. Blair William & Co. IL raised its position in shares of Tahoe Resources by 46.1% in the second quarter. Blair William & Co. IL now owns 19,875 shares of the basic materials company’s stock worth $171,000 after buying an additional 6,275 shares in the last quarter. Fore Research & Management LP purchased a new stake in shares of Tahoe Resources in the second quarter worth $172,000. Aperio Group LLC raised its position in shares of Tahoe Resources by 58.5% in the third quarter. Aperio Group LLC now owns 32,795 shares of the basic materials company’s stock worth $173,000 after buying an additional 12,109 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Tahoe Resources by 77.0% in the second quarter. M&T Bank Corp now owns 21,194 shares of the basic materials company’s stock worth $184,000 after buying an additional 9,217 shares in the last quarter. Hedge funds and other institutional investors own 70.28% of the company’s stock.
TAHO has been the topic of a number of research analyst reports. BidaskClub cut Tahoe Resources from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. BMO Capital Markets raised Tahoe Resources from a “market perform” rating to an “outperform” rating in a research note on Monday, September 11th. Credit Suisse Group raised Tahoe Resources from a “neutral” rating to an “outperform” rating in a research note on Monday, September 11th. ValuEngine cut Tahoe Resources from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, National Bank Financial reaffirmed a “sec perform spec market wgt” rating on shares of Tahoe Resources in a research note on Sunday, July 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.00.
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Tahoe Resources, Inc. (NYSE TAHO) opened at $4.37 on Friday. Tahoe Resources, Inc. has a 1-year low of $4.24 and a 1-year high of $11.43. The stock has a market cap of $1,366.83, a P/E ratio of 11.21, a PEG ratio of 2.71 and a beta of 0.42.
Tahoe Resources (NYSE:TAHO) (TSE:THO) last released its earnings results on Monday, November 6th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). Tahoe Resources had a net margin of 12.44% and a return on equity of 4.57%. The business had revenue of $155.20 million for the quarter, compared to analysts’ expectations of $127.12 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. Tahoe Resources’s revenue for the quarter was down 33.9% on a year-over-year basis. analysts expect that Tahoe Resources, Inc. will post 0.32 EPS for the current fiscal year.
Tahoe Resources 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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