Tahoe Resources (THO) Hits New 52-Week Low After Analyst Downgrade

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Shares of Tahoe Resources Inc (TSE:THO) (NASDAQ:TAHO) reached a new 52-week low during mid-day trading on Wednesday after TD Securities lowered their price target on the stock from C$6.00 to C$3.75. TD Securities currently has a hold rating on the stock. Tahoe Resources traded as low as C$3.39 and last traded at C$3.52, with a volume of 1541910 shares. The stock had previously closed at C$3.61.

Other analysts have also recently issued reports about the stock. Eight Capital lowered their target price on shares of Tahoe Resources from C$7.00 to C$5.75 in a research note on Wednesday. National Bank Financial lowered their target price on shares of Tahoe Resources from C$8.00 to C$7.00 in a research note on Saturday, July 14th. Macquarie lowered their target price on shares of Tahoe Resources from C$9.00 to C$6.00 in a research note on Wednesday. Beacon Securities cut shares of Tahoe Resources from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$10.00 to C$5.75 in a research note on Tuesday. Finally, Canaccord Genuity lowered their price objective on shares of Tahoe Resources from C$10.00 to C$9.00 in a research report on Tuesday, July 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of C$6.67.

Tahoe Resources (TSE:THO) (NASDAQ:TAHO) last posted its quarterly earnings data on Wednesday, August 1st. The company reported C($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.03) by C($0.03). The company had revenue of C$164.04 million for the quarter, compared to analysts’ expectations of C$151.80 million. Tahoe Resources had a negative net margin of 15.30% and a negative return on equity of 2.74%.

Tahoe Resources Company Profile (TSE:THO)

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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