Gold Resource (NYSEAMERICAN:GORO) Price Target Raised to $5.50

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Gold Resource (NYSEAMERICAN:GORO) had its price target lifted by investment analysts at HC Wainwright from $5.00 to $5.50 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price objective indicates a potential upside of 99.28% from the stock’s previous close.

Separately, Zacks Investment Research downgraded shares of Gold Resource from a “buy” rating to a “hold” rating in a research report on Friday, April 23rd.

Shares of NYSEAMERICAN:GORO opened at $2.76 on Tuesday. Gold Resource has a 52 week low of $2.48 and a 52 week high of $5.04. The company has a market capitalization of $205.45 million, a P/E ratio of -275.72 and a beta of 1.86. The firm has a 50 day moving average price of $3.20.

In other news, Director Ronald Little purchased 10,000 shares of the company’s stock in a transaction dated Friday, March 19th. The shares were purchased at an average price of $2.75 per share, for a total transaction of $27,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alex G. Morrison acquired 17,900 shares of the stock in a transaction dated Tuesday, March 9th. The stock was bought at an average price of $2.67 per share, with a total value of $47,793.00. Following the purchase, the director now directly owns 51,571 shares in the company, valued at $137,694.57. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 57,900 shares of company stock worth $153,293. Insiders own 7.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GORO. Diversified Trust Co purchased a new position in Gold Resource during the 4th quarter worth $41,000. Guggenheim Capital LLC boosted its holdings in shares of Gold Resource by 21.4% in the 4th quarter. Guggenheim Capital LLC now owns 263,795 shares of the basic materials company’s stock worth $768,000 after buying an additional 46,480 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Gold Resource in the 4th quarter worth about $35,000. ExodusPoint Capital Management LP purchased a new stake in Gold Resource during the fourth quarter valued at about $73,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Gold Resource during the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 44.42% of the company’s stock.

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 deposits. The company's flagship property is the Aguila project comprising 18 mining concessions covering an area of approximately 24,372 hectares located in the State of Oaxaca, Mexico.

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