Should You Buy Tahoe Resources Inc (TAHO)?

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Now, key hedge funds have been driving this bullishness. Hudson Bay Capital Management, led by Sander Gerber, assembled the biggest call position in Tahoe Resources Inc (NYSE:TAHO). Hudson Bay Capital Management had $1.1 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also made a $0.9 million investment in the stock during the quarter. The other funds with brand new TAHO positions are John Burbank’s Passport Capital, Alec Litowitz and Ross Laser’s Magnetar Capital, and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Tahoe Resources Inc (NYSE:TAHO) but similarly valued. These stocks are Tesoro Logistics LP (NYSE:TLLP), Manhattan Associates, Inc. (NASDAQ:MANH), Commerce Bancshares, Inc. (NASDAQ:CBSH), and Cheniere Energy Partners LP Holdings LLC (NYSEMKT:CQH). This group of stocks’ market valuations are similar to TAHO’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TLLP 6 24745 -3
MANH 16 205073 -5
CBSH 8 61038 2
CQH 19 541571 6

As you can see these stocks had an average of 12.25 hedge funds with bullish positions and the average amount invested in these stocks was $208 million. That figure was $105 million in TAHO’s case. Cheniere Energy Partners LP Holdings LLC (NYSEMKT:CQH) is the most popular stock in this table. On the other hand Tesoro Logistics LP (NYSE:TLLP) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Tahoe Resources Inc (NYSE:TAHO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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Disclosure: None




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