Tahoe Resources (TAHO) Sees Significant Growth in Short Interest

Tahoe Resources (NYSE:TAHO) (TSE:THO) was the recipient of a large increase in short interest in the month of March. As of March 29th, there was short interest totalling 14,068,219 shares, an increase of 29.0% from the March 15th total of 10,903,558 shares. Based on an average trading volume of 2,906,387 shares, the short-interest ratio is currently 4.8 days. Approximately 4.6% of the shares of the stock are sold short.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC lifted its holdings in Tahoe Resources by 206.1% during the 4th quarter. Meadow Creek Investment Management LLC now owns 445,298 shares of the basic materials company’s stock worth $2,133,000 after buying an additional 299,846 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in Tahoe Resources during the 4th quarter worth about $966,000. Paloma Partners Management Co acquired a new position in Tahoe Resources during the 4th quarter worth about $235,000. Two Sigma Securities LLC acquired a new position in Tahoe Resources during the 4th quarter worth about $113,000. Finally, Two Sigma Investments LP acquired a new position in Tahoe Resources during the 4th quarter worth about $3,090,000. 62.93% of the stock is currently owned by institutional investors.

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A number of equities research analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on Tahoe Resources in a report on Wednesday, March 28th. They issued a “buy” rating on the stock. ValuEngine downgraded Tahoe Resources from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd. Zacks Investment Research raised Tahoe Resources from a “sell” rating to a “hold” rating in a report on Saturday, March 24th. Finally, Credit Suisse Group downgraded Tahoe Resources from an “outperform” rating to a “neutral” rating in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold”.

Shares of TAHO stock opened at $5.04 on Wednesday. The firm has a market capitalization of $1,688.99, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 4.85 and a beta of 0.18. Tahoe Resources has a fifty-two week low of $3.76 and a fifty-two week high of $9.68.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). Tahoe Resources had a net margin of 11.15% and a return on equity of 3.18%. The firm had revenue of $117.70 million for the quarter, compared to analyst estimates of $129.88 million. During the same period last year, the business earned $0.06 EPS. The company’s revenue was down 37.9% compared to the same quarter last year. equities research analysts expect that Tahoe Resources will post 0.22 earnings per share for the current year.

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About Tahoe Resources

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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