HC Wainwright Reaffirms Buy Rating for Gold Resource (NYSEAMERICAN:GORO)

HC Wainwright reiterated their buy rating on shares of Gold Resource (NYSEAMERICAN:GORO) in a research report report published on Thursday morning, AnalystRatings.com reports. HC Wainwright currently has a $7.75 price target on the basic materials company’s stock.

Other equities analysts have also issued reports about the company. TheStreet upgraded Gold Resource from a c rating to a b- rating in a report on Friday, November 8th. Zacks Investment Research upgraded Gold Resource from a hold rating to a buy rating and set a $5.00 price objective on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Gold Resource presently has a consensus rating of Buy and a consensus price target of $6.42.

NYSEAMERICAN GORO opened at $5.21 on Thursday. Gold Resource has a fifty-two week low of $2.73 and a fifty-two week high of $5.84. The company’s 50-day moving average is $3.48.

Gold Resource (NYSEAMERICAN:GORO) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). The business had revenue of $40.07 million during the quarter, compared to the consensus estimate of $41.81 million.

The firm also recently disclosed a monthly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were paid a $0.0033 dividend. The ex-dividend date of this dividend was Friday, January 10th. This is a positive change from Gold Resource’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.77%.

Several institutional investors have recently bought and sold shares of GORO. BlackRock Inc. grew its position in Gold Resource by 18.7% during the second quarter. BlackRock Inc. now owns 4,253,864 shares of the basic materials company’s stock worth $14,376,000 after buying an additional 670,912 shares in the last quarter. Vanguard Group Inc. grew its position in Gold Resource by 17.4% during the second quarter. Vanguard Group Inc. now owns 3,529,503 shares of the basic materials company’s stock worth $11,930,000 after buying an additional 522,300 shares in the last quarter. State Street Corp grew its position in Gold Resource by 3.2% during the third quarter. State Street Corp now owns 1,307,007 shares of the basic materials company’s stock worth $3,986,000 after buying an additional 40,694 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Gold Resource during the second quarter worth about $3,198,000. Finally, Morgan Stanley grew its position in Gold Resource by 34.4% during the second quarter. Morgan Stanley now owns 882,809 shares of the basic materials company’s stock worth $2,984,000 after buying an additional 225,855 shares in the last quarter.

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.

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