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

Gold Resource (NYSEAMERICAN:GORO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research 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. “

A number of other equities analysts also recently issued reports on the stock. HC Wainwright set a $8.00 price objective on shares of Gold Resource and gave the company a “buy” rating in a research note on Friday, July 19th. Roth Capital assumed coverage on shares of Gold Resource in a research note on Tuesday, June 11th. They set a “buy” rating and a $6.50 price objective on the stock.

NYSEAMERICAN GORO opened at $3.29 on Wednesday. Gold Resource has a 52-week low of $2.73 and a 52-week high of $6.42.

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

In other Gold Resource news, Director Kimberly C. Perry acquired 20,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average cost of $3.24 per share, for a total transaction of $64,800.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $64,800. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have bought 25,009 shares of company stock worth $79,683.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC acquired a new stake in Gold Resource in the second quarter valued at approximately $3,198,000. Price T Rowe Associates Inc. MD boosted its stake in Gold Resource by 52.7% in 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 acquiring an additional 31,200 shares in the last quarter. Jane Street Group LLC acquired a new stake in Gold Resource in the second quarter valued at approximately $92,000. D. E. Shaw & Co. Inc. acquired a new stake in Gold Resource in the second quarter valued at approximately $53,000. Finally, Cubist Systematic Strategies LLC boosted its stake in 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 acquiring 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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