H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Gold Resource Corp (GORO) today and set a price target of $7.75. The company’s shares closed yesterday at $3.70, close to its 52-week low of $3.56.
Ihle noted:
“We reiterate our Buy rating and our PT of $7.75 per share. Our valuation remains based on a DCF analysis of the Oaxaca Mining Unit, utilizing a discount rate of 10.0%, which remains in-line with similar active producing projects in comparable mining jurisdictions.”
According to TipRanks.com, Ihle has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.0% and a 32.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Gold Resource Corp has an analyst consensus of Moderate Buy, with a price target consensus of $7.75.
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Based on Gold Resource Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $858K. In comparison, last year the company had a net profit of $5.46 million.
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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.
