5,191,548 Shares in Tahoe Resources Inc (TAHO) Acquired by Passport Capital LLC

Passport Capital LLC purchased a new stake in Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 5,191,548 shares of the basic materials company’s stock, valued at approximately $24,348,000. Tahoe Resources comprises 32.4% of Passport Capital LLC’s portfolio, making the stock its largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC increased its position in shares of Tahoe Resources by 214.7% during the fourth quarter. SG Americas Securities LLC now owns 34,253 shares of the basic materials company’s stock worth $164,000 after buying an additional 23,368 shares during the period. First Trust Advisors LP increased its position in shares of Tahoe Resources by 105.8% during the fourth quarter. First Trust Advisors LP now owns 2,140,572 shares of the basic materials company’s stock worth $10,253,000 after buying an additional 1,100,615 shares during the period. Wells Fargo & Company MN increased its position in shares of Tahoe Resources by 5.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,932,332 shares of the basic materials company’s stock worth $9,256,000 after buying an additional 96,272 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Tahoe Resources by 32.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 383,033 shares of the basic materials company’s stock worth $1,835,000 after buying an additional 93,751 shares during the period. Finally, Global X Management Co. LLC increased its position in shares of Tahoe Resources by 86.0% during the fourth quarter. Global X Management Co. LLC now owns 4,305,069 shares of the basic materials company’s stock worth $20,719,000 after buying an additional 1,990,621 shares during the period. Hedge funds and other institutional investors own 64.12% of the company’s stock.

NYSE:TAHO traded up $0.03 during trading hours on Thursday, reaching $5.15. The company had a trading volume of 11,218 shares, compared to its average volume of 2,682,210. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 4.47 and a beta of 0.22. Tahoe Resources Inc has a twelve month low of $3.76 and a twelve month high of $9.18.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last posted its quarterly earnings results on Wednesday, May 2nd. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $139.90 million during the quarter, compared to analyst estimates of $137.42 million. Tahoe Resources had a return on equity of 0.07% and a net margin of 0.04%. The company’s revenue for the quarter was down 44.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. research analysts forecast that Tahoe Resources Inc will post 0.24 EPS for the current year.

Several equities research analysts have recently weighed in on TAHO shares. Cantor Fitzgerald started coverage on shares of Tahoe Resources in a research report on Wednesday, March 28th. They set a “buy” rating for the company. ValuEngine cut shares of Tahoe Resources from a “sell” rating to a “strong sell” rating in a report on Monday, April 2nd. Zacks Investment Research cut shares of Tahoe Resources from a “hold” rating to a “sell” rating in a report on Thursday, April 26th. Finally, TheStreet cut shares of Tahoe Resources from a “c” rating to a “d+” rating in a report on Tuesday, May 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Tahoe Resources has a consensus 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.

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Institutional Ownership by Quarter for Tahoe Resources (NYSE:TAHO)

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