Gold Resource (NYSEAMERICAN:GORO) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Gold Resource (NYSEAMERICAN:GOROGet Rating) from a sell rating to a hold rating in a research note published on Monday morning, Zacks.com reports.

According to Zacks, “Gold Resource Corporation is a mining company focused on production and pursuing development of select, high-grade gold and silver projects that feature low operation costs and produce high returns on capital. The Company has 100% interest in four potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. The Company has an interest in four properties, the El Aguila property, the Las Margaritas property, the El Rey property and the Solaga property. All of these properties are in the exploration stage and have no probable reserves. The company is based in Denver, Colorado. “

Separately, HC Wainwright reaffirmed a buy rating and set a $5.75 price objective (up from $5.50) on shares of Gold Resource in a report on Monday, March 14th.

NYSEAMERICAN:GORO opened at $1.79 on Monday. Gold Resource has a one year low of $1.50 and a one year high of $2.99. The company has a market cap of $158.13 million, a P/E ratio of 17.90 and a beta of 1.62.

Gold Resource (NYSEAMERICAN:GOROGet Rating) last released its quarterly earnings data on Thursday, March 10th. The basic materials company reported $0.03 earnings per share for the quarter. The company had revenue of $38.06 million during the quarter. Gold Resource had a net margin of 6.41% and a return on equity of 8.02%. Analysts predict that Gold Resource will post 0.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, June 14th. Gold Resource’s dividend payout ratio is currently 40.00%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ruffer LLP bought a new position in Gold Resource in the fourth quarter worth $2,700,000. Bank of Montreal Can increased its holdings in shares of Gold Resource by 1,625.3% during the fourth quarter. Bank of Montreal Can now owns 1,542,134 shares of the basic materials company’s stock valued at $2,483,000 after acquiring an additional 1,452,749 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Gold Resource by 26.4% during the third quarter. Renaissance Technologies LLC now owns 821,613 shares of the basic materials company’s stock valued at $1,290,000 after acquiring an additional 171,752 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Gold Resource by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 636,482 shares of the basic materials company’s stock valued at $992,000 after acquiring an additional 6,173 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Gold Resource by 111.5% during the third quarter. Marshall Wace LLP now owns 619,000 shares of the basic materials company’s stock valued at $972,000 after acquiring an additional 326,266 shares in the last quarter. 32.93% of the stock is owned by institutional investors and hedge funds.

About Gold Resource (Get Rating)

Gold Resource Corporation engages in the exploration, development, and production of gold and silver projects in Mexico and the United States. The company also explores for copper, lead, and zinc deposits. Its principal asset is the 100% owned Back Forty project covering approximately 1,304 hectares located in Menominee county, Michigan.

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