Growing Through Challenges? – Gold Resource Corporation (GORO)

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The Vanguard Group, Inc. recently announced the acquisition of new stake in Gold Resource Corporation (AMEX:GORO). The institutional investor has increased its shareholding in the Basic Materials company by 19.36% to 3.72 million shares with purchase of 0.6 million shares. This fresh investment now brings its stake to 5.32% valued currently at $15.3 million. In addition, Dimensional Fund Advisors LP raised its holdings by 59479.0 to 2.42 million shares. And Geode Capital Management LLC has lifted its position by 10.09% or 87355.0 shares – to 0.95 million shares.

With over 1.96 million Gold Resource Corporation (GORO) shares trading Tuesday and a closing price of $4.74 on the day, the dollar volume was approximately $9.28 million. The shares have shown a positive weekly performance of 13.67% and its price on 07/21/20 gained nearly 8.97%. Currently, there are 70.03M common shares owned by the public and among those 67.75M shares have been available to trade.

Incidentally, analysts’ outlook for the Gold Resource Corporation stock is 2.00 for the next 12 months.

Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 126,102 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 28,120 shares.

The top 3 mutual fund holders in Gold Resource Corporation are VanEck Vectors – Junior Gold Mine, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. VanEck Vectors – Junior Gold Mine owns 3.11 million shares of the company’s stock, all valued at over $12.78 million. The company bought an additional 2948.0 shares recently to bring their total holdings to about 4.44% of the shares outstanding. Vanguard Total Stock Market Index sold -0.53 million shares to see its total holdings shrink to 1.83 million shares valued at over $7.51 million and representing 2.61% of the shares outstanding. iShares Russell 2000 ETF sold 33540.0 shares to bring its total holdings to over 1.32 million shares at a value of $5.43 million. iShares Russell 2000 ETF now owns shares totaling to 1.89% of the shares outstanding.

Shares of Gold Resource Corporation (AMEX: GORO) opened at $4.56, up $0.21 from a prior closing price of $4.35. However, the script later closed the day at $4.74, up 8.97%. The company’s stock has a 5-day price change of 13.67% and 29.86% over the past three months. GORO shares are trading -14.44% year to date (YTD), with the 12-month market performance up to 27.08% higher. It has a 12-month low price of $2.02 and touched a high of $6.24 over the same period. Currently, 1.96 million shares have been traded, compared to an average intraday trading volume of 1.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.69%, 19.24%, and 11.66% respectively.

Institutional ownership of Gold Resource Corporation (AMEX: GORO) shares accounts for 44.70% of the company’s 70.03M shares outstanding. Mutual fund holders own 17.15%, while other institutional holders and individual stakeholders account for 28.18% and 15.05% respectively.

It has a market capitalization of $327.96M and a beta (3y monthly) value of 1.93. The stock’s trailing 12-month PE ratio is 163.45, while the earnings-per-share (ttm) stands at $0.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.40% over the week and 5.41% over the month.

Analysts forecast that Gold Resource Corporation (GORO) will achieve an EPS of -$0.02 for the current quarter, $0.06 for the next quarter and $0.28 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -42.80%, and 418.18% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Gold Resource Corporation (GORO) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the GORO, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on June 11, 2019, with the firm’s price target at $6.50. H.C. Wainwright coverage for the Gold Resource Corporation (GORO) stock in a research note released on March 25, 2019 offered a Buy rating with a price target of $7.75. Global Hunter Securities was of a view on May 09, 2013 that the stock is Reduce, while Global Hunter Securities gave the stock Neutral rating on October 18, 2012, issuing a price target of $22- $17.50. Global Hunter Securities on their part issued Accumulate rating on August 02, 2012.

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