Tahoe Resources Inc.

Tahoe Resources Inc. is a publicly traded company (TSX:THO/NYSE:TAHO) led by experienced mining professionals who are dedicated to the responsible production of precious metals in the Americas.

In their quest to develop and operate world-class mines, we are dedicated to maximizing shareholder value while working to the highest standards of environmental stewardship, community engagement and employee health and safety. As a new leader in precious metals, we operate the Escobal silver mine in Guatemala, the La Arena and Shahuindo gold mines in Peru and the Timmins West and Bell Creek gold mines in Canada.

Expert Comments:

The Q2 numbers are in, and Tahoe Resources exceeded both production and cash flow expectations in the first half of 2016, according to analysts following the company. Based on those numbers—and with management changes also in place—the experts believe the company will continue to outperform.
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Geordie Mark, Haywood Securities (8/11/16)
"Our investment thesis for Tahoe Resources Inc. is predicated on its collection of assets, including the Escobal silver-zinc-lead-gold mine in Guatemala, and La Arena gold mine and Shahuindo gold development project in Peru, and Timmins West and Bell Creek mines in Canada. . .The company is underpinned by production from Escobal, which is a top-tier asset in resource endowment and silver grade, which together support the potential for healthy operating margins over a protracted period. . .we believe that the company consolidates its position as a mid-tier producer with a strong balance sheet featuring very low debt."

Ron Stewart, Dundee Capital Markets (8/10/16)
"We view Tahoe Resources Inc. as a top-tier intermediate precious metals company given its high quality and low cost operations, growth profile, strong balance sheet, sustainable dividend and disciplined M&A strategy. . .despite this, THO is undervalued compared to both its silver producer peers and premium gold producers. . .we believe THO deserves a slight premium, given its cost profile, silver exposure, yield, growth profile and long mine life . . .Increasing our target from C$27.50 to C$28.00. Tahoe trades at 1.45x NAV vs other intermediate gold producers at 1.84x."

Andrew Kaip, BMO Capital Markets (8/10/16)
"Tahoe Resources Inc. trades at 1.7x the 5% nominal NPV at BMO prices vs. the intermediate gold peers at 1.9x. THO is rated Outperform with a revised target price of C$23.00. . .Adjusting for stock-based comp, Q2/16 EPS of $0.18 were in line with our estimate and a beat versus consensus. . .Strong silver production was driven by higher-than-expected silver grades at Escobal, and the company now expects to achieve the top end of silver guidance of 18-21Moz, while guidance for gold of 370-430koz was maintained."

Cosmos Chiu, CIBC World Markets (8/10/16)
"Tahoe Resources Inc. reported solid Q2/16 results, with EPS of $0.19 and CFPS of $0.33 compared to CIBC estimates of $0.15 and $0.28, respectively. Production for the quarter included 5.7Moz of silver at AISC of $8.16/oz and 109,687 ounces of gold at AISC of $973/oz, compared to CIBC estimates of 5.0Moz silver at AISC of $9.50/oz and 95,000 oz gold at AISC of $1,000/oz. . .CIBC's price target for Tahoe increases to C$24 (from C$22)."

Chris Thompson, Raymond James (8/10/16)
"Q2/16 represented as key quarter for Tahoe Resources Inc., as it closed the acquisition of Lake Shore Gold, declared commercial production at Shahuindo, and continued to deliver strong operating results (generating significant FCF) at Escobal and La Arena. . .Our CA$22.25 target is derived using a 50/50 weighting on a 12x 2017E CFPS estimate and 1.3x minesite NAV. Our target price implies a 1.5x P/NAV multiple which we feel is justified given THO's growth profile, balance sheet, and low quartile costs."

Geordie Mark, Haywood Securities (7/11/16)
"We have a Buy rating and $25 target price for Tahoe Resources Inc. . .the company is a growing diversified precious metals producer with assets in Guatemala, Peru and Canada. Successfully built of the cornerstone, world-class Escobal silver mine in Guatemala, and transformed through a series of acquisitions adding gold production in Peru and most recently Canada. . .For 2016, we estimate production of 371 Koz Au plus 20.6 Moz Ag and base metals, or 705 Koz AuEq at a cash cost of US$522 and all-in cost of US$835 per gold-equivalent ounce."

More Expert Comments

Experts Following This Company

Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
Barry Allan, Vice Chair of Mining Group, and Senior Mining Analyst – Mackie Research Capital
John Bridges, Analyst – J.P. Morgan
Luke Burgess – Hard Money Millionaire
Cosmos Chiu, Executive Director of Precious Metals Equity Research – CIBC World Markets
Brent Cook, Analyst, Geologist Exploration Insights
Michael Curran, Managing Director, Research Analyst – Beacon Securities Ltd.
Michael Gray, Analyst – Macquarie Capital Markets
Andrew Kaip, Analyst – BMO Capital Markets
Tony Lesiak, Head of Canadian Mining Research – Canaccord Genuity
Geordie Mark, Head, Mining Research – Haywood Securities
Joe Mazumdar Exploration Insights
Rob McEwen – Lexam VG Gold Inc., McEwen Capital, Rubicon Minerals Corp., US Gold
Ben McEwen – CIBC World Markets
Axel Merk, CEO – Merk Investments
Robert Mullin, General Partner – Real Assets Equity Income Fund
Matthew O'Keefe, Senior Analyst – Dundee Capital Markets
Greg Orrell, Portfolio Manager – OCM Gold Fund
Gwen Preston, Founder Resource Maven
Ron Stewart, Analyst – Dundee Capital Markets
Chris Thompson, Mining Analyst – Raymond James
Stephen Walker, Analyst – RBC Capital Markets

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
Responsible, low-cost production
Substantial free cash flow
Strong balance sheet
Large portfolio of growth assets
Experienced management team
Monthly dividend
Delivering shareholder value