OppenheimerFunds Inc. Acquires 1,134,522 Shares of Tahoe Resources Inc (TAHO)

OppenheimerFunds Inc. increased its holdings in shares of Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 159.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,845,100 shares of the basic materials company’s stock after purchasing an additional 1,134,522 shares during the period. OppenheimerFunds Inc.’s holdings in Tahoe Resources were worth $9,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TAHO. BlackRock Inc. increased its holdings in Tahoe Resources by 119.6% in the second quarter. BlackRock Inc. now owns 14,689,974 shares of the basic materials company’s stock valued at $72,275,000 after buying an additional 8,000,137 shares in the last quarter. Passport Capital LLC purchased a new stake in shares of Tahoe Resources during the first quarter worth about $24,348,000. Frontier Capital Management Co. LLC increased its stake in shares of Tahoe Resources by 45.0% during the second quarter. Frontier Capital Management Co. LLC now owns 6,459,845 shares of the basic materials company’s stock worth $31,782,000 after purchasing an additional 2,005,905 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Tahoe Resources by 5.4% during the first quarter. Van ECK Associates Corp now owns 36,963,476 shares of the basic materials company’s stock worth $173,359,000 after purchasing an additional 1,889,517 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Tahoe Resources during the first quarter worth about $6,797,000. 64.63% of the stock is owned by institutional investors.

TAHO has been the subject of a number of research reports. Beacon Securities cut shares of Tahoe Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Zacks Investment Research raised shares of Tahoe Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 12th. BMO Capital Markets cut their target price on shares of Tahoe Resources from $8.50 to $7.50 and set an “outperform” rating for the company in a research note on Monday, September 10th. Finally, ValuEngine raised shares of Tahoe Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $7.50.



TAHO opened at $2.93 on Thursday. The stock has a market cap of $908.60 million, a P/E ratio of 10.85 and a beta of 0.18. Tahoe Resources Inc has a twelve month low of $2.55 and a twelve month high of $5.86. The company has a current ratio of 1.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.03.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last posted its quarterly earnings results on Wednesday, August 1st. The basic materials company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $127.13 million for the quarter, compared to analyst estimates of $129.33 million. Tahoe Resources had a negative return on equity of 1.80% and a negative net margin of 9.04%. The business’s revenue was down 39.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. equities analysts predict that Tahoe Resources Inc will post -0.08 EPS for the current year.

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

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