American Century Companies Inc. cut its stake in Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 15.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 768,000 shares of the basic materials company’s stock after selling 137,168 shares during the period. American Century Companies Inc.’s holdings in Tahoe Resources were worth $3,779,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in Tahoe Resources by 5.4% in the 1st quarter. Van ECK Associates Corp now owns 36,963,476 shares of the basic materials company’s stock valued at $173,359,000 after acquiring an additional 1,889,517 shares in the last quarter. BlackRock Inc. raised its holdings in Tahoe Resources by 0.7% in the 1st quarter. BlackRock Inc. now owns 6,689,837 shares of the basic materials company’s stock valued at $31,374,000 after acquiring an additional 43,641 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in Tahoe Resources by 45.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 6,459,845 shares of the basic materials company’s stock valued at $31,782,000 after acquiring an additional 2,005,905 shares in the last quarter. Passport Capital LLC acquired a new position in Tahoe Resources in the 1st quarter valued at $24,348,000. Finally, Royal Bank of Canada raised its holdings in Tahoe Resources by 3.9% in the 1st quarter. Royal Bank of Canada now owns 4,653,267 shares of the basic materials company’s stock valued at $21,824,000 after acquiring an additional 172,678 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE TAHO opened at $2.84 on Friday. The firm has a market capitalization of $855.34 million, a price-to-earnings ratio of 10.52 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.97 and a debt-to-equity ratio of 0.03. Tahoe Resources Inc has a fifty-two week low of $2.55 and a fifty-two week high of $7.00.
Tahoe Resources (NYSE:TAHO) (TSE:THO) last announced its quarterly earnings data on Wednesday, August 1st. The basic materials company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.02). Tahoe Resources had a negative net margin of 9.04% and a negative return on equity of 1.80%. The company had revenue of $127.13 million during the quarter, compared to analyst estimates of $129.33 million. During the same period in the prior year, the firm earned $0.11 earnings per share. Tahoe Resources’s revenue was down 39.3% on a year-over-year basis. equities research analysts forecast that Tahoe Resources Inc will post -0.05 EPS for the current fiscal year.
Several brokerages have weighed in on TAHO. ValuEngine raised Tahoe Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, June 16th. TheStreet cut Tahoe Resources from a “c” rating to a “d+” rating in a report on Tuesday, May 22nd. Zacks Investment Research cut Tahoe Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 10th. Finally, Beacon Securities cut Tahoe Resources from a “buy” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold”.
Tahoe Resources Profile
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.
Further Reading: Stock Symbols and CUSIP Explained
Want to see what other hedge funds are holding TAHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tahoe Resources Inc (NYSE:TAHO) (TSE:THO).
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.