Gold Resource Corp (AMEX: GORO): A Competitive Analysis And Growth Prospects

In today’s recent session, 0.79 million shares of the Gold Resource Corp (AMEX:GORO) have been traded, and its beta is 1.63. Most recently the company’s share price was $0.56, and it changed around $0.07 or 14.04% from the last close, which brings the market valuation of the company to $49.56M. GORO at last check was trading at a discount to its 52-week high of $1.19, offering almost -112.5% off that amount. The share price’s 52-week low was $0.22, which indicates that the recent value has risen by an impressive 60.71% since then. We note from Gold Resource Corp’s average daily trading volume that its 10-day average is 0.89 million shares, with the 3-month average coming to 627.87K.

Gold Resource Corp (AMEX:GORO) trade information

Instantly GORO has been showing a green trend so far today with a performance of 14.04% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 48.62% year-to-date, but still up 54.88% over the last five days. On the other hand, Gold Resource Corp (AMEX:GORO) is 115.01% up in the 30-day period. We can see from the shorts that 0.11 million shares have been sold at a short interest cover period of 0.16 day(s).

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Gold Resource Corp (GORO) estimates and forecasts

Gold Resource Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 30.56 percent over the past six months and at a 64.71% annual growth rate that is well above the industry average of 5.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 50.00% in revenue this quarter, and will report a decrease of -400.00% in the next quarter. The year-over-year growth rate is expected to be -29.60%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $21.14 million in revenue for the current quarter. 1 analysts expect Gold Resource Corp to make $15.95 million in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $32.37 million and $31.23 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -34.70%. Forecasts for the next quarter put sales growth at -48.90%.

Gold Resource Corp (AMEX:GORO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.73% of Gold Resource Corp shares, and 19.70% of them are in the hands of institutional investors. The stock currently has a share float of 19.85%. Gold Resource Corp stock is held by 71 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 5.95% of the shares, which is about 5.27 million shares worth $3.32 million.

Mirae Asset Global Investments Co., Ltd., with 2.46% or 2.18 million shares worth $1.37 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Global X Fds-Global X Silver Miners ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 3.81 million shares worth $2.4 million, making up 4.31% of all outstanding shares. On the other hand, Global X Fds-Global X Silver Miners ETF held roughly 2.18 million shares worth around $0.93 million, which represents about 2.47% of the total shares outstanding.