The stock of Tahoe Resources Inc (TSE:THO) gapped up by $0.09 today and has $26.16 target or 63.00% above today’s $16.05 share price. The 6 months technical chart setup indicates low risk for the $5.06B company. The gap was reported on Oct, 19 by Barchart.com. If the $26.16 price target is reached, the company will be worth $3.19 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 519,475 shares traded hands. Tahoe Resources Inc (TSE:THO) has risen 19.23% since March 14, 2016 and is uptrending. It has outperformed by 13.68% the S&P500.
Tahoe Resources Inc (TSE:THO) Ratings Coverage
Out of 4 analysts covering Tahoe Resources Inc (TSE:THO), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Tahoe Resources Inc has been the topic of 14 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Thursday, November 26 by RBC Capital Markets. The rating was upgraded by IBC to “Sector Outperformer” on Thursday, October 8. The company was downgraded on Thursday, February 18 by RBC Capital Markets. The firm earned “Overweight” rating on Friday, December 11 by JP Morgan. The stock of Tahoe Resources Inc (TSE:THO) has “Outperform” rating given on Monday, August 24 by RBC Capital Markets. As per Tuesday, February 9, the company rating was upgraded by Raymond James. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, January 27. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, January 15 report.
More news for Tahoe Resources Inc (TSE:THO) were recently published by: Forbes.com, which released: “Tahoe Resources Enters Oversold Territory (THO)” on August 24, 2016. Prnewswire.com‘s article titled: “Tahoe Resources Declares Tenth Monthly Dividend For 2016” and published on October 06, 2016 is yet another important article.
Tahoe Resources Inc. is a mine operating, mineral exploration and development company. The company has a market cap of $5.06 billion. The Company’s principal business activities are to operate the Escobal mine, a silver mining operation in southeastern Guatemala; the La Arena mine, a gold mining operation located in northwestern Peru, and the Shahuindo gold mine, located in northwestern Peru. It currently has negative earnings. It conducts its business in two divisions based on the primary metal produced: gold and silver.
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