In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Gold Resource Corp (GORO), with a price target of $7.75. The company’s shares closed yesterday at $2.84, close to its 52-week low of $2.77.
Ihle said:
“We reiterate our Buy rating and our PT of $7.75 per share. Our valuation remains predicated on a DCF analysis for the Oaxaca Mining Unit utilizing a discount rate of 10.0%. We also include the firm’s in our valuation and assign an unchanged 9.0% discount rate to the asset.”
According to TipRanks.com, Ihle has currently no stars on a ranking scale of 0-5 stars, with an average return of -13.3% and a 24.4% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gold Resource Corp with a $7.75 average price target.
See today’s analyst top recommended stocks >>
Based on Gold Resource Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $882K. In comparison, last year the company had a net profit of $5.46 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GORO in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Gold Resource Corp. is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada. It engages in the exploration, development, and production of metal concentrates and dore. Its products include gold, silver, copper, lead, and zinc.
