Traders Purchase Large Volume of Put Options on Tahoe Resources (TAHO)

Tahoe Resources (NYSE:TAHO) (TSE:THO) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 764 put options on the company. This is an increase of approximately 1,342% compared to the typical daily volume of 53 put options.

Shares of TAHO opened at $5.24 on Wednesday. Tahoe Resources has a 52-week low of $3.76 and a 52-week high of $9.68. The firm has a market cap of $1,592.03, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 4.38 and a beta of 0.18.

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Tahoe Resources (NYSE:TAHO) (TSE:THO) last announced its earnings results on Thursday, February 22nd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Tahoe Resources had a return on equity of 3.18% and a net margin of 11.15%. The business had revenue of $117.70 million for the quarter, compared to analyst estimates of $129.88 million. During the same period last year, the firm earned $0.06 EPS. The company’s revenue for the quarter was down 37.9% compared to the same quarter last year. sell-side analysts forecast that Tahoe Resources will post 0.23 earnings per share for the current year.



A number of institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new position in shares of Tahoe Resources during the 4th quarter valued at about $113,000. Bourgeon Capital Management LLC acquired a new position in shares of Tahoe Resources during the 4th quarter valued at about $120,000. Tower Research Capital LLC TRC boosted its position in shares of Tahoe Resources by 454.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,127 shares of the basic materials company’s stock valued at $130,000 after acquiring an additional 22,234 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Tahoe Resources during the 4th quarter valued at about $132,000. Finally, MANA Advisors LLC acquired a new position in shares of Tahoe Resources during the 4th quarter valued at about $136,000. 62.93% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the stock. ValuEngine cut shares of Tahoe Resources from a “sell” rating to a “strong sell” rating in a research note on Monday, April 2nd. Cantor Fitzgerald assumed coverage on shares of Tahoe Resources in a research note on Wednesday, March 28th. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Tahoe Resources from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. Finally, Credit Suisse Group cut shares of Tahoe Resources from an “outperform” rating to a “neutral” rating in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold”.

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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.

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