Principal Financial Group Inc. reduced its stake in Tahoe Resources, Inc. (NYSE:TAHO) by 24.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,423 shares of the basic materials company’s stock after selling 11,851 shares during the period. Principal Financial Group Inc.’s holdings in Tahoe Resources were worth $301,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank raised its stake in Tahoe Resources by 60.5% in the fourth quarter. Comerica Bank now owns 30,966 shares of the basic materials company’s stock worth $279,000 after buying an additional 11,673 shares during the period. Dimensional Fund Advisors LP raised its stake in Tahoe Resources by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 708,983 shares of the basic materials company’s stock worth $6,679,000 after buying an additional 51,806 shares during the period. Renaissance Technologies LLC increased its stake in shares of Tahoe Resources by 2,260.7% in the fourth quarter. Renaissance Technologies LLC now owns 429,651 shares of the basic materials company’s stock worth $4,042,000 after buying an additional 411,451 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Tahoe Resources by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 330,608 shares of the basic materials company’s stock worth $3,114,000 after buying an additional 29,953 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Tahoe Resources during the fourth quarter worth approximately $170,000. 64.95% of the stock is currently owned by institutional investors.
Shares of Tahoe Resources, Inc. (NYSE TAHO) opened at 5.53 on Friday. Tahoe Resources, Inc. has a 1-year low of $4.93 and a 1-year high of $14.95. The firm has a market capitalization of $1.73 billion, a PE ratio of 10.07 and a beta of 0.47. The stock has a 50 day moving average price of $5.67 and a 200 day moving average price of $7.83.
The company also recently disclosed a monthly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 20th were paid a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, July 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.34%.
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TAHO has been the subject of several analyst reports. UBS AG downgraded Tahoe Resources from a “strong-buy” rating to an “outperform” rating in a research report on Friday, June 23rd. National Bank Financial downgraded Tahoe Resources from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, July 5th. BidaskClub downgraded Tahoe Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. BMO Capital Markets downgraded Tahoe Resources from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 6th. Finally, ValuEngine raised Tahoe Resources from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Tahoe Resources has a consensus rating of “Hold” and a consensus target price of $17.33.
Tahoe Resources Company Profile
Tahoe Resources Inc is a mine operations, and mineral exploration and development company. The Company’s principal business activities are the exploration, development, operation and acquisition of mineral properties for the mining of precious metals in the Americas. Its business involves operating the Escobal mine, a silver mining operation located in southeastern Guatemala, the La Arena and Shahuindo mines, gold mining operations located in northwestern Peru, and the Bell Creek mine and mill and the Timmins West mine, gold mining operations located in northeastern Ontario, Canada.
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