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

Zacks Investment Research lowered shares of Gold Resource (NYSEAMERICAN:GORO) from a buy rating to a hold rating in a research note issued to investors on Wednesday 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 set a $7.80 price target on Gold Resource and gave the stock a buy rating in a research report on Friday, October 18th.

Shares of NYSEAMERICAN GORO traded up $0.15 during trading hours on Wednesday, reaching $4.05. The stock had a trading volume of 1,076,934 shares, compared to its average volume of 726,735. The company has a fifty day moving average price of $3.48. Gold Resource has a 52-week low of $2.73 and a 52-week high of $5.80.

Gold Resource (NYSEAMERICAN:GORO) last issued its quarterly earnings data 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 company 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 was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 11th were paid a dividend of $0.0017 per share. This represents a dividend yield of 0.6%. The ex-dividend date was Thursday, October 10th.

Several hedge funds have recently bought and sold shares of GORO. Rhumbline Advisers lifted its stake in Gold Resource by 7.9% in the 3rd quarter. Rhumbline Advisers now owns 87,750 shares of the basic materials company’s stock valued at $268,000 after buying an additional 6,395 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Gold Resource in the 3rd quarter valued at about $151,000. Guild Investment Management Inc. purchased a new position in Gold Resource in the 3rd quarter valued at about $1,002,000. Nuveen Asset Management LLC purchased a new position in Gold Resource in the 2nd quarter valued at about $3,198,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Gold Resource by 52.7% in 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 buying an additional 31,200 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.

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