Tahoe Resources Makes New All-Time Low After Unfavorable Court Ruling

Tahoe Resources Inc TAHO shares are trading lower by $2.44 — or roughly 30 percent — at $5.86 in Thursday's session. The catalyst for the decline is the ruling by a Guatemalan court that it has suspended the company's Escobal Mining license.

After a lower open that far eclipsed its former all-time low from January 2016 ($6.47), it continued in that direction until finding support at $5.12 and reversing course. The rebound off that low took the issue to a new high for the day at $6.12. However, it is struggling to remain in the $6.00 handle.

In response to the ruling, BMO Capital has downgraded the issue from Outperform to Market Perform.