The stock of Tahoe Resources Inc (TSE:THO) gapped down by $0.33 today and has $11.49 target or 4.00% below today’s $11.97 share price. The 6 months technical chart setup indicates high risk for the $3.72 billion company. The gap down was reported on Nov, 23 by Barchart.com. If the $11.49 price target is reached, the company will be worth $148.80M 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 543,355 shares traded hands. Tahoe Resources Inc (TSE:THO) has declined 22.16% since April 19, 2016 and is downtrending. It has underperformed by 27.49% the S&P500.
Tahoe Resources Inc (TSE:THO) Ratings Coverage
Out of 5 analysts covering Tahoe Resources Inc (TSE:THO), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $26 is the highest target while $13 is the lowest. The $22 average target is 83.79% above today’s ($11.97) stock price. Tahoe Resources Inc has been the topic of 16 analyst reports since August 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, November 26 report. The firm earned “Outperform” rating on Wednesday, January 27 by RBC Capital Markets. The firm earned “Outperform” rating on Monday, August 24 by RBC Capital Markets. The stock has “Overweight” rating given by JP Morgan on Friday, December 11. On Tuesday, February 9 the stock rating was upgraded by Raymond James to “Strong Buy”. The stock of Tahoe Resources Inc (TSE:THO) earned “Sector Perform” rating by RBC Capital Markets on Thursday, February 18. The firm earned “Sector Outperformer” rating on Thursday, October 8 by IBC. The company was maintained on Friday, January 15 by RBC Capital Markets.
More news for Tahoe Resources Inc (TSE:THO) were recently published by: Prnewswire.com, which released: “Tahoe Resources Reports Third Quarter Results” on November 03, 2016. Nasdaq.com‘s article titled: “Tahoe Resources, Inc. (TAHO) Ex-Dividend Date Scheduled for November 14, 2016” and published on November 11, 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 $3.72 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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