Gold resource (NYSEAMERICAN:GORO – Get a rating)The stock was given a repeated “buy” rating by equity researchers at HC Wainwright in a research report released Thursday. They currently have a target price of $5.75 on shares of the basic materials company. HC Wainwright’s price target would indicate a potential upside of 273.38% from the stock’s previous close.
Gold Resource Price Performance
Shares of NYSEAMERICAN GORO opened at $1.54 on Thursday. The stock has a market capitalization of $136.04 million, a PE ratio of 15.40 and a beta of 1.62. Gold Resource has a fifty-two week low of $1.50 and a fifty-two week high of $2.63.
Gold resource (NYSEAMERICAN:GORO – Get a rating) last reported quarterly earnings data on Monday, May 9. The basic materials company reported earnings per share of $0.05 for the quarter. The company had revenue of $45.42 million in the quarter. Gold Resource had a return on equity of 8.02% and a net margin of 6.41%. As a group, sell-side analysts expect Gold Resource to post EPS of 0.08 for the current fiscal year.
Institutional investors weigh on the gold resource
Several hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Gold Resource by 16.9% in the first quarter. Van ECK Associates Corp now owns 4,799,640 shares of the basic materials company valued at $10,751,000 after buying an additional 692,245 shares in the last quarter. Vanguard Group Inc. increased its stake in Gold Resource by 22.6% in Q1. Vanguard Group Inc. now owns 4,054,741 shares of the basic materials company valued at $9,083,000 after buying an additional 746,896 shares in the last quarter. Ruffer LLP acquired a new stake in Gold Resource during the fourth quarter valued at approximately $2,700,000. Mirae Asset Global Investments Co. Ltd. increased its position in Gold Resource by 5.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,615,446 shares of the basic materials company worth $3,619,000 after acquiring 83,459 additional shares in the last quarter. Finally, Bank of Montreal Can increased its position in Gold Resource by 1,625.3% during the fourth quarter. Bank of Montreal Can now owns 1,542,134 shares of the basic materials company worth $2,483,000 after acquiring an additional 1,452,749 shares in the last quarter. 32.93% of the shares are currently held 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 is also exploring copper, lead and zinc deposits. Its principal asset is the 100% owned Back Forty Project covering approximately 1,304 hectares located in Menominee County, Michigan.
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