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

Gold Resource (NYSEAMERICAN:GOROGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, 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 issued a $5.75 price objective (up previously from $5.50) on shares of Gold Resource in a research note on Monday, March 14th.

Shares of GORO traded down $0.05 during mid-day trading on Thursday, hitting $1.85. The company’s stock had a trading volume of 648,984 shares, compared to its average volume of 1,330,106. The stock has a market capitalization of $163.43 million, a P/E ratio of 18.50 and a beta of 1.62. Gold Resource has a fifty-two week low of $1.50 and a fifty-two week high of $2.99.

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

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new position in shares of Gold Resource in the second quarter worth approximately $29,000. Marshall Wace North America L.P. purchased a new position in shares of Gold Resource in the first quarter worth approximately $48,000. Ritholtz Wealth Management purchased a new position in shares of Gold Resource in the first quarter worth approximately $29,000. CWM LLC purchased a new position in shares of Gold Resource in the fourth quarter worth approximately $25,000. Finally, Virtu Financial LLC purchased a new position in shares of Gold Resource in the fourth quarter worth approximately $29,000. 32.93% of the stock is currently owned by institutional investors and hedge funds.

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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