Gold Resource (NYSEAMERICAN:GORO) Stock Rating Lowered by Zacks Investment Research

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

Other equities analysts have also recently issued research reports about the stock. HC Wainwright lifted their target price on shares of Cara Therapeutics from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Roth Capital reiterated a “buy” rating on shares of Gold Resource in a research report on Tuesday, June 11th.

Shares of NYSEAMERICAN:GORO opened at $3.55 on Tuesday. Gold Resource has a 52 week low of $2.73 and a 52 week high of $7.33.

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

In other news, Director Kimberly C. Perry acquired 20,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of $3.24 per share, for a total transaction of $64,800.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $64,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its position 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 acquiring an additional 10,153 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Gold Resource in the first quarter valued at about $48,000. First Republic Investment Management Inc. purchased a new position in shares of Gold Resource in the first quarter valued at about $49,000. Metropolitan Life Insurance Co. NY increased its position in shares of Gold Resource by 362.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,528 shares of the basic materials company’s stock valued at $74,000 after acquiring an additional 14,525 shares during the period. Finally, Raymond James & Associates increased its position 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 acquiring an additional 3,401 shares during the period.

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.

Further Reading: Dividend Aristocrat Index

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