Technicals Say Gold Resource Corporation (GORO) Is Worth Holding


As of Friday close, Gold Resource Corporation’s (AMEX:GORO) stock was up $0.04, moving up 4.65 percent to $0.90. The average number of shares traded per day over the past five days has been 2,591,800 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0700 gain in that time frame. In the last twenty days, the average volume was 1,464,610, while in the previous 50 days, it was 1,101,112.

Since last month, GORO stock retreated -15.89%. Shares of the company fell to $0.8200 on 03/15/23, the lowest level in the past month. A 52-week high of $2.63 was reached on 01/26/23 after having rallying from a 52-week low of $0.82. Since the beginning of this year, GORO’s stock price has dropped by -41.18% or -$0.6300, and marked a new high 12 times. However, the stock has declined by -65.78% since its 52-week high.

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Valuation Metrics

The stock’s beta is 1.55. Besides these, the trailing price-to-sales (P/S) ratio of 0.58, the price-to-book (PB) ratio of 0.69.

Financial Health

In the three months ended September 29, Gold Resource Corporation’s quick ratio stood at 1.80, while its current ratio was 2.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 26.50% percent. In the year ended September 29, operating margins totaled 9.50%. Based on annual data, GORO earned $29.75 million in gross profit and brought in $138.72 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 7.50%. Return on equity (ROE) for the past 12 months was -0.30%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GORO’s revenue rose 10.32% to $23.87 million during the quarter, while net income inched up to $32.37 million. While analysts expected Gold Resource Corporation to report $0.01 quarterly earnings, the actual figure was -$0.11 per share. During the quarter, the company generated $3.02 million in EBITDA. The liabilities of Gold Resource Corporation were 92.41 million at the end of its most recent quarter ended September 29. The value of shareholders’ equity is $88.4 million.

Technical Picture

This quick technical analysis looks at Gold Resource Corporation’s (GORO) price momentum. With a historical volatility rate of 61.36%, the RSI 9-day stood at 41.81% on 17 March.

With respect to its five-day moving average, the current Gold Resource Corporation price is up by +8.43% percent or $0.0700. At present, GORO shares trade -13.46% below its 20-day simple moving average and -45.45% percent below its 100-day simple moving average. However, the stock is currently trading approximately -43.40% below its SMA50 and -48.57% below its SMA200.

Stochastic coefficient K was 21.38% and Stochastic coefficient D was 14.97%, while ATR was 0.0754. Given the Stochastic reading of 33.33% for the 14-day period, the RSI (14) reading has been calculated as 35.16%.

With a median target price of $3.00, the current consensus forecast for the stock is $3.00 – $3.00. Based on these forecasts, analysts predict Gold Resource Corporation (GORO) will achieve an average price target of $3.00.


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