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

Gold Resource (NYSEAMERICAN:GOROGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, 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 restated a “buy” rating and set a $5.75 target price (up from $5.50) on shares of Gold Resource in a report on Monday, March 14th.

Shares of GORO opened at $1.79 on Wednesday. The stock has a market capitalization of $158.13 million, a PE ratio of 17.90 and a beta of 1.62. Gold Resource has a 52-week low of $1.50 and a 52-week high of $2.99.

Gold Resource (NYSEAMERICAN:GOROGet Rating) last posted its earnings results on Thursday, March 10th. The basic materials company reported $0.03 earnings per share for the quarter. Gold Resource had a net margin of 6.41% and a return on equity of 8.02%. The firm had revenue of $38.06 million during the quarter. As a group, analysts forecast that Gold Resource will post 0.08 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its stake in shares of Gold Resource by 16.9% during the 1st quarter. Van ECK Associates Corp now owns 4,799,640 shares of the basic materials company’s stock worth $10,751,000 after purchasing an additional 692,245 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Gold Resource by 5.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,615,446 shares of the basic materials company’s stock worth $3,619,000 after purchasing an additional 83,459 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Gold Resource in the first quarter worth approximately $29,000. F&V Capital Management LLC boosted its position in shares of Gold Resource by 100.0% in the first quarter. F&V Capital Management LLC now owns 20,000 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Gold Resource by 86.4% in the fourth quarter. Barclays PLC now owns 70,002 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 32,454 shares during the last quarter. 32.93% of the stock is currently owned by institutional investors.

Gold Resource Company Profile (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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