Zacks Investment Research upgraded shares of Gold Resource (NYSEAMERICAN:GORO) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. The brokerage currently has $3.75 price target on the basic materials company’s stock.

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 analysts also recently commented on the stock. Roth Capital began coverage on shares of Gold Resource in a research note on Tuesday, June 11th. They set a buy rating and a $6.50 price objective on the stock. HC Wainwright set a $8.00 price objective on shares of Gold Resource and gave the company a buy rating in a research note on Friday, July 19th.

GORO traded down $0.06 during trading hours on Wednesday, reaching $3.47. 10,755 shares of the stock traded hands, compared to its average volume of 725,507. The business’s fifty day moving average price is $3.48. Gold Resource has a fifty-two week low of $2.73 and a fifty-two week high of $6.42.

Gold Resource (NYSEAMERICAN:GORO) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The company had revenue of $29.37 million for the quarter, compared to analyst estimates of $32.67 million.

The firm also recently declared a — dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 11th will be given a $0.0017 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a dividend yield of 0.6%.

Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its position in Gold Resource by 44.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,002 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 4,602 shares during the last quarter. First Trust Advisors LP lifted its position in Gold Resource by 7.6% in the 1st 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 last quarter. Tower Research Capital LLC TRC lifted its position in Gold Resource by 6,270.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,429 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 9,281 shares during the last quarter. SG Americas Securities LLC bought a new stake in Gold Resource in the 2nd quarter valued at about $34,000. Finally, Marshall Wace North America L.P. bought a new stake in Gold Resource in the 1st quarter valued at about $48,000.

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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