Gold Resource (NYSEAMERICAN:GORO) Downgraded by Zacks Investment Research 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 morning, 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. “

A number of other research firms also recently weighed in on GORO. HC Wainwright increased their price target on Cara Therapeutics from $26.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Roth Capital reissued a buy rating on shares of Gold Resource in a research note on Tuesday, June 11th.

GORO stock opened at $3.34 on Tuesday. Gold Resource has a twelve month low of $2.73 and a twelve month high of $7.33.

Gold Resource (NYSEAMERICAN:GORO) last posted its quarterly earnings results 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 during the quarter.

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

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

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in Gold Resource by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,842,390 shares of the basic materials company’s stock worth $7,370,000 after buying an additional 109,361 shares during the period. Geode Capital Management LLC raised its stake in Gold Resource by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 586,707 shares of the basic materials company’s stock worth $2,346,000 after buying an additional 40,279 shares during the period. Martingale Asset Management L P raised its stake in Gold Resource by 330.9% during the 1st quarter. Martingale Asset Management L P now owns 342,130 shares of the basic materials company’s stock worth $1,345,000 after buying an additional 262,724 shares during the period. Marshall Wace LLP acquired a new stake in Gold Resource during the 1st quarter worth $1,338,000. Finally, Deutsche Bank AG raised its stake in Gold Resource by 131.5% during the 4th quarter. Deutsche Bank AG now owns 290,789 shares of the basic materials company’s stock worth $1,162,000 after buying an additional 165,192 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.

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