Zacks Investment Research Downgrades Tahoe Resources (TAHO) to Sell
Zacks Investment Research downgraded shares of Tahoe Resources (NYSE:TAHO) (TSE:THO) from a hold rating to a sell rating in a research report report published on Saturday morning.
According to Zacks, “Tahoe Resources Inc. is engaged in the exploration and development of mineral properties in the United States for the mining of precious metals. It principally holds interests in the Escobal project located in southeastern Guatemala. Tahoe Resources Inc. is headquartered in Reno, Nevada. “
Several other equities analysts have also weighed in on TAHO. BidaskClub lowered Tahoe Resources from a sell rating to a strong sell rating in a report on Wednesday, October 18th. Credit Suisse Group lowered Tahoe Resources from an outperform rating to a neutral rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold.
Tahoe Resources (NYSE:TAHO) (TSE:THO) last posted its earnings results on Monday, November 6th. The basic materials company reported ($0.02) earnings per share 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 company had revenue of $155.20 million for the quarter, compared to the consensus estimate of $127.12 million. During the same quarter last year, the business earned $0.21 earnings per share. Tahoe Resources’s quarterly revenue was down 33.9% on a year-over-year basis. equities analysts forecast that Tahoe Resources will post 0.3 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of TAHO. Schroder Investment Management Group increased its stake in shares of Tahoe Resources by 868.3% in 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 period. Russell Investments Group Ltd. increased its stake in shares of Tahoe Resources by 782.6% in the third quarter. Russell Investments Group Ltd. now owns 2,223,130 shares of the basic materials company’s stock worth $11,672,000 after purchasing an additional 1,971,259 shares during the period. Intact Investment Management Inc. increased its stake in shares of Tahoe Resources by 82.1% in 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 period. Mason Hill Advisors LLC increased its stake in shares of Tahoe Resources by 193.9% in the third quarter. Mason Hill Advisors LLC now owns 2,051,503 shares of the basic materials company’s stock worth $10,790,000 after purchasing an additional 1,353,544 shares during the period. Finally, Alps Advisors Inc. increased its stake in shares of Tahoe Resources by 1,689.5% in the fourth quarter. Alps Advisors Inc. now owns 1,362,434 shares of the basic materials company’s stock worth $6,526,000 after purchasing an additional 1,286,301 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2018/02/06/zacks-investment-research-downgrades-tahoe-resources-taho-to-sell.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tahoe Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tahoe Resources and related companies with MarketBeat.com's FREE daily email newsletter.