Tahoe Resources (NYSE:TAHO) has tumbled 1.33% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 8.11% in the last four weeks. The stocks have underperformed the S&P 500 by 0.15% during the past week but Tahoe Resources (NYSE:TAHO) it has outperformed the index in 4 weeks by 7.12%.
Tahoe Resources (NYSE:TAHO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.48 and $13.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.33, notching a gain of 0.68% for the day. The total traded volume was 3,099,432 . The stock had closed at $13.24 on the previous day.
The company shares have dropped -0.82% from its 1 Year high price. On May 2, 2016, the shares registered one year high at $14.29 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $12.94 and the 200 Day Moving Average price is recorded at $10.35.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Raymond James downgrades its rating on Tahoe Resources (NYSE:TAHO). The rating major has initiated the coverage with outperform rating on the shares. Earlier, the shares were rated a Strong Buy by the brokerage firm. The rating by the firm was issued on April 20, 2016. Institutional Investors own 48.2% of Tahoe Resources shares.
Tahoe Resources Inc. is a mineral exploration, development and mine operating company. The Companys principal business activity is to operate the Escobal mine, a mining operation in southeastern Guatemala. The Escobal deposit is an intermediate-sulfidation fault-related vein formed within Tertiary sedimentary and volcanic rocks within the Caribbean plate. The Escobal vein system hosts silver, gold, lead and zinc, with an associated epithermal suite of elements, within quartz and quartz-carbonate veins. It is also engaged in the acquisition, exploration, development and operation of mineral properties in the Americas for the mining of precious metals. The Company produces metal-bearing concentrates. Silver, gold, lead and zinc are recovered by differential flotation, producing silver-rich lead concentrates and zinc concentrates, which are sold to third-party smelters under concentrate sales arrangements.