Amalgamated Bank Lowers Holdings in Tahoe Resources Inc (TAHO)

Amalgamated Bank trimmed its stake in Tahoe Resources Inc (NYSE:TAHO) (TSE:THO) by 23.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,826 shares of the basic materials company’s stock after selling 13,690 shares during the period. Amalgamated Bank’s holdings in Tahoe Resources were worth $221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TAHO. Passport Capital LLC bought a new position in shares of Tahoe Resources in the first quarter worth approximately $24,348,000. Frontier Capital Management Co. LLC bought a new position in shares of Tahoe Resources in the first quarter worth approximately $20,889,000. Van ECK Associates Corp lifted its stake in shares of Tahoe Resources by 5.4% in 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 buying an additional 1,889,517 shares in the last quarter. Millennium Management LLC bought a new position in shares of Tahoe Resources in the first quarter worth approximately $6,797,000. Finally, American Century Companies Inc. lifted its stake in shares of Tahoe Resources by 119.6% in the first quarter. American Century Companies Inc. now owns 905,168 shares of the basic materials company’s stock worth $4,246,000 after buying an additional 492,968 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

TAHO traded down $0.07 during trading on Friday, hitting $3.44. The company’s stock had a trading volume of 4,128,700 shares, compared to its average volume of 2,897,798. 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 Inc has a one year low of $3.39 and a one year high of $7.00. The company has a market capitalization of $1.15 billion, a PE ratio of 13.00 and a beta of 0.11.

Tahoe Resources (NYSE:TAHO) (TSE:THO) last released its quarterly earnings results 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). The business had revenue of $127.13 million during the quarter, compared to the consensus estimate of $129.33 million. Tahoe Resources had a negative return on equity of 1.80% and a negative net margin of 9.04%. The firm’s revenue was down 39.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share. equities analysts forecast that Tahoe Resources Inc will post -0.05 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Tahoe Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 16th. TheStreet downgraded shares of Tahoe Resources from a “c” rating to a “d+” rating in a research report on Tuesday, May 22nd. Finally, Zacks Investment Research downgraded shares of Tahoe Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 10th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold”.

Tahoe Resources Company 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: Momentum Indicator: Relative Strength Index

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

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