The stock of Tahoe Resources Inc (TSE:THO) gapped down by $0.07 today and has $13.18 target or 8.00% below today’s $14.33 share price. The 7 months technical chart setup indicates high risk for the $4.28B company. The gap down was reported on Nov, 7 by Barchart.com. If the $13.18 price target is reached, the company will be worth $342.40M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 691,414 shares traded hands. Tahoe Resources Inc (TSE:THO) has risen 16.83% since April 1, 2016 and is uptrending. It has outperformed by 14.88% 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. $26 is the highest target while $13 is the lowest. The $22 average target is 53.52% above today’s ($14.33) stock price. Tahoe Resources Inc has been the topic of 15 analyst reports since August 24, 2015 according to StockzIntelligence Inc. IBC upgraded the stock to “Sector Outperformer” rating in Thursday, October 8 report. As per Thursday, February 18, the company rating was downgraded by RBC Capital Markets. The firm has “Outperform” rating by RBC Capital Markets given on Friday, January 15. On Friday, December 11 the stock rating was initiated by JP Morgan with “Overweight”. The firm earned “Strong Buy” rating on Tuesday, February 9 by Raymond James. As per Thursday, November 26, the company rating was maintained by RBC Capital Markets. The stock has “Outperform” rating given by RBC Capital Markets on Monday, August 24. The stock of Tahoe Resources Inc (TSE:THO) has “Outperform” rating given on Wednesday, January 27 by RBC Capital Markets.
More important recent Tahoe Resources Inc (TSE:THO) news were published by: Seekingalpha.com which released: “Tahoe Resources – Fairly Valued After 3rd Quarter Earnings” on November 07, 2016, also Prnewswire.com published article titled: “Tahoe Resources Declares Eleventh Monthly Dividend For 2016”, Prnewswire.com published: “Tahoe Resources Reports Third Quarter Results” on November 03, 2016. More interesting news about Tahoe Resources Inc (TSE:THO) was released by: Prnewswire.com and their article: “Tahoe Resources Recommends Shareholders Reject TRC Capital’s “Mini-Tender” Offer” with publication date: October 10, 2016.
Tahoe Resources Inc. is a mine operating, mineral exploration and development company. The company has a market cap of $4.28 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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