Economy

Tahoe Resources Sharply Higher Off Favorable Court Ruling

Tahoe Resources Sharply Higher Off Favorable Court Ruling”

Shares of Tahoe Resources Inc (TSX:THO)(NYSE:TAHO) was up 40% an hour into trading on September 11 as Guatemala's Supreme Court reinstated the company's license for the Escobal mine. In reaction, shares of the precious metals miner are up almost 40% in Monday's trading session. In early July the silver mining company saw its stock price nearly halve when the Supreme Court upheld a decision by a lower tribunal to suspend two mining licenses.

The Company expects that CALAS, the Xinca Parliament and other interested parties may appeal the Supreme Court's ruling to the Constitutional Court.

Today's decision reverses the Supreme Court's preliminary decision to suspend the company's license in connection with an action brought by CALAS.

Tahoe CEO Ron Clayton released a statement in a press release. "Once the road is re-opened at Casillas, we will resume full operations without disruption and put our valued employees and vendors back to work, support the economy of our local communities and return value to our shareholders". Royal Bank Of Canada upgraded Tahoe Resources from a "sector perform" rating to an "outperform" rating and decreased their price objective for the stock from $27.00 to $19.00 in a report on Monday, December 12th.

Tahoe Resources has PE ratio of 12.11 with a one year low of $4.24 and a one year high of $14.60 and has a market capitalization of $0. The Company's principal business activities are to operate the Escobal mine, a silver mining operation in southeastern Guatemala; the La Arena mine, a gold mining operation located in northwestern Peru, and the Shahuindo gold mine, located in northwestern Peru.



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