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Tahoe Resources Is an Analyst Favorite

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Jul. 6 2016, Updated 5:04 p.m. ET

Tahoe is an analyst favorite

Among all the primary silver producers (SIL), Tahoe Resources (TAHO) seems to be an analyst favorite. It has the highest “buy” ratings at 88% and no “sell” ratings. Its current target price is $15.1, which implies an upside potential of 18%. Its consensus target price has seen an upward revision of 30% since the start of 2016.

While Tahoe’s highest target price comes from Macquarie at $17.5, its lowest target price at $11.7 is from Haywood Securities.

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No rating change

There haven’t been any rating changes for Tahoe Resources in the last few months. Tahoe’s peers like First Majestic Silver (AG), Coeur Mining (CDE), and Pan American Silver (PAAS) also haven’t seen a rating change in the last few months. On June 13, 2016, Tahoe’s executive vice president and president of Canadian operations, Tony Makuch, resigned. This was mildly negative for the stock. However, it didn’t lead to a rating change.

Dundee Securities increased its price target for Tahoe from 19 Canadian dollars to 20.75 Canadian dollars. It has a “buy” rating on the stock. The broker also increased its earnings per share (or EPS) estimate for 2016 from $0.46 to $0.55.

Macquarie increased Tahoe’s price target from 21.25 Canadian dollars to 22.25 Canadian dollars on June 7, 2016, while maintaining its “outperform” rating.

BMO Capital Markets reiterated its “outperform” rating on the stock on June 13 with the target price of $15.7.

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