Gold Resource Corporation (NYSE:GORO) is a stock to watch today. At current price of $3.35, the shares have already added 0.12 points (3.56% higher) from its previous close of $3.23. The stock sets an active trading volume day with a reported 332866 contracts so far this session. GORO shares had a relatively better volume day versus average trading capacity of 703.35 thousand shares, but with a 60.1 million float and a -4.15% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GORO stock indicates that the average analyst price target is $7.13 per share. This means the stock has a potential increase of 112.84% from where the GORO share price has been trading recently which is between $3.22 and $3.4. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.5.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of GORO earnings conference call or presentation 8-May-19 3:00pm GMT” and dated July 10, 2019.
During the recent trading session for Gold Resource Corporation (NYSE:GORO), the company witnessed their stock rise $0.11 over a week and surge $0.21 from the price 20 days ago. When compared to their established 52-week high of $7.33, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/18/18. The recent low of $2.73 stood for a -54.37% since 05/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.03 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Gold Resource Corporation, the two-week RSI stands at 53.4. This figure suggests that GORO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current GORO readings is similarly very revealing as it has a stochastic reading of 38.36% at this stage. This figure means that GORO share price today is being neutral.
Technical chart claims that Gold Resource Corporation (GORO) would settle between $3.35/share to $3.46/share level. However, if the stock price goes below the $3.17 mark, then the market for Gold Resource Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $3.1 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at ROTH Capital, assumed coverage of GORO assigning Buy rating, according to their opinion released on June 11. H.C. Wainwright, analysts launched coverage of Gold Resource Corporation (NYSE:GORO) stock with a Buy recommendation, according to their flash note issued to investors on March 25. Analysts at Global Hunter Securities lowered the stock to a Reduce call from its previous Neutral recommendation, in a research note that dated back to May 09.
GORO equity has an average rating of 2, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Gold Resource Corporation (NYSE:GORO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, GORO stock price is currently trading at 9.36X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.93 while for the average stock in the same group, the multiple is 6.3. Gold Resource Corporation current P/E ratio of 42.57 means it is trading at a premium against its industry’s 13.52. In the past 5 years, this ratio for the stock has been fluctuating between 12.25 and 55.25.
Gold Resource Corporation (GORO)’s current-quarter revenues are projected to climb by nearly 30.66% to hit $40.21 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 27.8% from $115310 to a noteworthy $147370. At the other end of the current quarter income statement, Gold Resource Corporation is expected to see its adjusted earnings surge by roughly 50% to hit $0.09 per share. For the fiscal year, GORO’s earnings are projected to climb by roughly 25% to hit $0.2 per share.