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

Zacks Investment Research upgraded shares of Gold Resource (NYSEAMERICAN:GORO) from a strong sell rating to a hold rating in a research report report published 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. “

Other equities research analysts have also recently issued research reports about the stock. Roth Capital initiated coverage on shares of Gold Resource in a research note on Tuesday, June 11th. They set a buy rating and a $6.50 target price on the stock. HC Wainwright set a $8.00 target price on shares of Gold Resource and gave the stock a buy rating in a research note on Friday, July 19th.

NYSEAMERICAN GORO opened at $3.15 on Wednesday. Gold Resource has a 12 month low of $2.73 and a 12 month high of $6.42.

Gold Resource (NYSEAMERICAN:GORO) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $29.37 million for the quarter, compared to the consensus estimate of $32.67 million.

The company also recently announced a dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 12th will be paid a dividend of $0.0017 per share. The ex-dividend date is Friday, August 9th.

In other news, Director Kimberly C. Perry bought 20,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were bought at an average price of $3.24 per share, for a total transaction of $64,800.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $64,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have acquired 25,009 shares of company stock worth $79,683.

Several institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new stake in shares of Gold Resource during the second quarter valued at approximately $3,198,000. Price T Rowe Associates Inc. MD raised its position in shares of Gold Resource by 52.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 90,453 shares of the basic materials company’s stock valued at $306,000 after buying an additional 31,200 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Gold Resource during the second quarter valued at approximately $92,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Gold Resource in the second quarter valued at $53,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Gold Resource by 44.3% in the second quarter. Cubist Systematic Strategies LLC now owns 15,002 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 4,602 shares in the last quarter.

About Gold Resource

Gold Resource Corporation explores for, develops, produces, and sells gold and silver in Mexico and the United States. It also explores for copper, lead, and zinc. The company's flagship property is the Aguila project comprising 18 mining concessions aggregating approximately 25,264 hectares located in the State of Oaxaca, Mexico.

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