Morgan Stanley boosted its position in Tahoe Resources, Inc. (NYSE:TAHO) by 44.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,341,272 shares of the basic materials company’s stock after buying an additional 413,656 shares during the period. Morgan Stanley owned about 0.43% of Tahoe Resources worth $10,771,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP increased its position in shares of Tahoe Resources by 181.9% in the first quarter. Quantbot Technologies LP now owns 14,874 shares of the basic materials company’s stock worth $119,000 after buying an additional 9,598 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Tahoe Resources during the first quarter valued at $143,000. Highbridge Capital Management LLC bought a new stake in shares of Tahoe Resources during the fourth quarter valued at $170,000. Laurion Capital Management LP increased its stake in shares of Tahoe Resources by 18.8% in the first quarter. Laurion Capital Management LP now owns 20,200 shares of the basic materials company’s stock valued at $162,000 after buying an additional 3,200 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Tahoe Resources by 76.8% in the first quarter. SG Americas Securities LLC now owns 21,175 shares of the basic materials company’s stock valued at $170,000 after buying an additional 9,195 shares in the last quarter. Institutional investors own 64.95% of the company’s stock.
Shares of Tahoe Resources, Inc. (NYSE TAHO) traded up 0.36% during trading on Friday, hitting $5.53. 1,828,598 shares of the stock were exchanged. Tahoe Resources, Inc. has a 12-month low of $4.93 and a 12-month high of $14.95. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 10.07 and a beta of 0.47. The firm has a 50 day moving average of $5.67 and a 200-day moving average of $7.83.
The company also recently disclosed a monthly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 20th were paid a dividend of $0.02 per share. This represents a $0.24 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Tuesday, July 18th.
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Several analysts have recently weighed in on the stock. UBS AG downgraded shares of Tahoe Resources from a “strong-buy” rating to an “outperform” rating in a research report on Friday, June 23rd. National Bank Financial downgraded shares of 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 shares of Tahoe Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. BMO Capital Markets downgraded shares of Tahoe Resources from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 6th. Finally, ValuEngine upgraded shares of Tahoe Resources from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target 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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