FY2024 EPS Estimates for Gold Resource Co. Lowered by Analyst (NYSE:GORO)

Gold Resource Co. (NYSE:GORO) – Analysts at HC Wainwright reduced their FY2024 EPS estimates for shares of Gold Resource in a research note issued to investors on Thursday, August 8th. HC Wainwright analyst H. Ihle now expects that the company will earn ($0.38) per share for the year, down from their previous forecast of ($0.06). HC Wainwright has a “Buy” rating and a $1.75 price target on the stock. The consensus estimate for Gold Resource’s current full-year earnings is ($0.06) per share.

Separately, StockNews.com assumed coverage on shares of Gold Resource in a research note on Tuesday. They issued a “sell” rating for the company.

Gold Resource Stock Performance

Shares of NYSE:GORO opened at $0.33 on Monday. The company has a market cap of $29.97 million, a P/E ratio of -1.57 and a beta of 1.45. The company has a 50 day moving average of $0.43. Gold Resource has a one year low of $0.22 and a one year high of $0.71.

Hedge Funds Weigh In On Gold Resource

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Gold Resource during the first quarter worth $37,000. Renaissance Technologies LLC increased its position in shares of Gold Resource by 6.8% during the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after buying an additional 95,300 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gold Resource by 14.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock worth $1,050,000 after buying an additional 312,765 shares during the period. 18.38% of the stock is currently owned by institutional investors and hedge funds.

About Gold Resource

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 assets are the 100% owned Don David gold mine and Back Forty project covering approximately 1,304 hectares located in Menominee county, Michigan.