Tahoe Resources Inc (TSE:THO) (NASDAQ:TAHO) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday. The firm currently has a C$10.00 target price on the stock, up from their prior target price of C$7.00. BMO Capital Markets’ target price would suggest a potential upside of 31.41% from the stock’s current price.
Other analysts have also issued research reports about the company. CIBC increased their price objective on Tahoe Resources from C$7.00 to C$8.00 in a report on Tuesday. CSFB raised Tahoe Resources from a “neutral” rating to an “outperform” rating in a research report on Monday. National Bank Financial cut their price target on Tahoe Resources from C$8.50 to C$7.50 and set a “sector perform” rating on the stock in a research report on Friday, August 25th. Eight Capital reaffirmed a “neutral” rating on shares of Tahoe Resources in a research report on Thursday, August 17th. Finally, Canaccord Genuity cut their price target on Tahoe Resources from C$12.00 to C$9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$11.28.
Shares of Tahoe Resources (THO) traded up 0.66% during midday trading on Tuesday, hitting $7.66. The stock had a trading volume of 2,915,900 shares. Tahoe Resources has a 52-week low of $5.31 and a 52-week high of $19.28. The company’s 50 day moving average is $6.52 and its 200 day moving average is $9.77. The company has a market cap of $2.40 billion and a PE ratio of 13.95.
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In other news, insider James Voorhees acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of C$5.41 per share, for a total transaction of C$27,050.00. Also, Director Ronald Wayne Clayton acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of C$5.55 per share, for a total transaction of C$111,000.00.
About Tahoe Resources
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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