Zacks Investment Research Lowers Gold Resource (NYSEAMERICAN:GORO) to Sell

Zacks Investment Research lowered shares of Gold Resource (NYSEAMERICAN:GORO) from a hold rating to a sell rating in a report released on Tuesday, 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. “

Several other equities research analysts have also recently weighed in on the company. Roth Capital reissued a buy rating on shares of Gold Resource in a research note on Tuesday, June 11th. HC Wainwright boosted their price objective on Cara Therapeutics from $26.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, May 29th.

Shares of NYSEAMERICAN GORO opened at $3.23 on Tuesday. Gold Resource has a 1-year low of $2.73 and a 1-year high of $7.33.

Gold Resource (NYSEAMERICAN:GORO) last issued its quarterly earnings data on Tuesday, May 7th. The basic materials company reported $0.01 earnings per share for the quarter. The company had revenue of $26.58 million for the quarter.

The firm also recently announced a dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Thursday, July 11th will be paid a dividend of $0.0017 per share. The ex-dividend date of this dividend is Wednesday, July 10th.

In other Gold Resource news, Director Kimberly C. Perry bought 20,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average price of $3.24 per share, with a total value of $64,800.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $64,800. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GORO. Raymond James & Associates boosted its holdings in shares of Gold Resource by 17.0% in the fourth quarter. Raymond James & Associates now owns 23,456 shares of the basic materials company’s stock valued at $94,000 after purchasing an additional 3,401 shares during the period. Millennium Management LLC boosted its holdings in shares of Gold Resource by 3.4% in the fourth quarter. Millennium Management LLC now owns 150,972 shares of the basic materials company’s stock valued at $604,000 after purchasing an additional 4,979 shares during the period. MetLife Investment Advisors LLC boosted its holdings in shares of Gold Resource by 28.5% in the fourth quarter. MetLife Investment Advisors LLC now owns 25,100 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 5,570 shares during the period. First Trust Advisors LP boosted its holdings in shares of Gold Resource by 7.6% in the first quarter. First Trust Advisors LP now owns 111,929 shares of the basic materials company’s stock valued at $440,000 after purchasing an additional 7,888 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Gold Resource by 483.7% in the first quarter. BNP Paribas Arbitrage SA now owns 12,252 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 10,153 shares during the period.

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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