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

Zacks Investment Research upgraded shares of Gold Resource (NYSEAMERICAN:GORO) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. They currently have $3.75 price target on the basic materials company’s stock.

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. “

Several other equities analysts have also issued reports on GORO. Roth Capital initiated coverage on Gold Resource in a research report on Tuesday, June 11th. They set a buy rating and a $6.50 target price for the company. HC Wainwright set a $8.00 target price on Gold Resource and gave the stock a buy rating in a research report on Friday, July 19th.



Gold Resource stock opened at $3.33 on Wednesday. Gold Resource has a 1 year low of $2.73 and a 1 year high of $6.42. The stock’s 50-day moving average is $3.48.

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

The firm also recently disclosed a — dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 11th will be issued a dividend of $0.0017 per share. This represents a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 10th.

Several large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new position in shares of Gold Resource during the 2nd quarter valued at about $3,198,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gold Resource by 52.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 90,453 shares of the basic materials company’s stock valued at $306,000 after purchasing an additional 31,200 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Gold Resource during the 2nd quarter valued at about $92,000. D. E. Shaw & Co. Inc. bought a new position in shares of Gold Resource during the 2nd quarter valued at about $53,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Gold Resource by 44.3% during the 2nd 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.

Gold Resource Company Profile

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.

Featured Story: Is it better to buy a fund with a higher or lower NAV?

Get a free copy of the Zacks research report on Gold Resource (GORO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Gold Resource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gold Resource and related companies with MarketBeat.com's FREE daily email newsletter.