Hedge Funds Are Buying Tahoe Resources Inc (TAHO)

Tahoe Resources Inc (NYSE:TAHO) was in 5 hedge funds’ portfolio at the end of December. TAHO has seen an increase in hedge fund interest recently. There were 4 hedge funds in our database with TAHO holdings at the end of the previous quarter.

In today’s marketplace, there are plenty of methods market participants can use to watch publicly traded companies. A couple of the most useful are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best money managers can outperform the market by a solid amount (see just how much).

Just as integral, bullish insider trading sentiment is another way to parse down the investments you’re interested in. There are a variety of stimuli for an insider to drop shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Several empirical studies have demonstrated the valuable potential of this tactic if “monkeys” know what to do (learn more here).

Now, we’re going to take a look at the latest action surrounding Tahoe Resources Inc (NYSE:TAHO).

How are hedge funds trading Tahoe Resources Inc (NYSE:TAHO)?

At year’s end, a total of 5 of the hedge funds we track held long positions in this stock, a change of 25% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their holdings significantly.

When looking at the hedgies we track, First Eagle Investment Management, managed by Jean-Marie Eveillard, holds the most valuable position in Tahoe Resources Inc (NYSE:TAHO). First Eagle Investment Management has a $51.3 million position in the stock, comprising 0.2% of its 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with a $21.6 million position; 0.1% of its 13F portfolio is allocated to the company. Some other hedgies that are bullish include Eric Sprott’s Sprott Asset Management, Michael Hintze’s CQS Cayman LP and Jim Simons’s Renaissance Technologies.

Now, key hedge funds have jumped into Tahoe Resources Inc (NYSE:TAHO) headfirst. Renaissance Technologies, managed by Jim Simons, initiated the largest position in Tahoe Resources Inc (NYSE:TAHO). Renaissance Technologies had 0.3 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $0.3 million investment in the stock during the quarter.

How have insiders been trading Tahoe Resources Inc (NYSE:TAHO)?

Bullish insider trading is particularly usable when the company we’re looking at has experienced transactions within the past half-year. Over the latest half-year time frame, Tahoe Resources Inc (NYSE:TAHO) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Tahoe Resources Inc (NYSE:TAHO). These stocks are Titanium Metals Corp (NYSE:TIE), PVR Partners LP (NYSE:PVR), Alliance Resource Partners, L.P. (NASDAQ:ARLP), Compass Minerals International, Inc. (NYSE:CMP), and Natural Resource Partners LP (NYSE:NRP). All of these stocks are in the industrial metals & minerals industry and their market caps are closest to TAHO’s market cap.