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GORO

Gold Resource NYSEAM:GORO Stock Report

Last Price

US$1.77

Market Cap

US$156.4m

7D

6.0%

1Y

12.0%

Updated

05 Oct, 2022

Data

Company Financials +
GORO fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance4/6
Financial Health5/6
Dividends4/6

GORO Stock Overview

Gold Resource Corporation engages in the exploration, development, and production of gold and silver projects in Mexico and the United States.

Gold Resource Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Gold Resource
Historical stock prices
Current Share PriceUS$1.77
52 Week HighUS$2.63
52 Week LowUS$1.50
Beta1.58
1 Month Change2.91%
3 Month Change10.63%
1 Year Change12.03%
3 Year Change-49.86%
5 Year Change-54.73%
Change since IPO60.91%

Recent News & Updates

Shareholder Returns

GOROUS Metals and MiningUS Market
7D6.0%7.8%1.9%
1Y12.0%-6.3%-18.8%

Return vs Industry: GORO exceeded the US Metals and Mining industry which returned -6.2% over the past year.

Return vs Market: GORO exceeded the US Market which returned -18.2% over the past year.

Price Volatility

Is GORO's price volatile compared to industry and market?
GORO volatility
GORO Average Weekly Movement6.8%
Metals and Mining Industry Average Movement8.9%
Market Average Movement7.0%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.9%

Stable Share Price: GORO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: GORO's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1998540Allen Palmierehttps://www.goldresourcecorp.com

Gold Resource Corporation engages in the exploration, development, and production of gold and silver projects in Mexico and the United States. The company also explores for copper, lead, and zinc deposits. Its principal asset is the 100% owned Back Forty project covering approximately 1,304 hectares located in Menominee county, Michigan.

Gold Resource Fundamentals Summary

How do Gold Resource's earnings and revenue compare to its market cap?
GORO fundamental statistics
Market CapUS$156.42m
Earnings (TTM)US$10.91m
Revenue (TTM)US$149.57m

14.3x

P/E Ratio

1.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GORO income statement (TTM)
RevenueUS$149.57m
Cost of RevenueUS$79.50m
Gross ProfitUS$70.07m
Other ExpensesUS$59.16m
EarningsUS$10.91m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.12
Gross Margin46.85%
Net Profit Margin7.29%
Debt/Equity Ratio0.0%

How did GORO perform over the long term?

See historical performance and comparison

Dividends

2.3%

Current Dividend Yield

30%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is GORO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GORO?

Other financial metrics that can be useful for relative valuation.

GORO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.8x
Enterprise Value/EBITDA2.5x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does GORO's PE Ratio compare to its peers?

GORO PE Ratio vs Peers
The above table shows the PE ratio for GORO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.1x
FTCO Fortitude Gold
8.4xn/aUS$136.5m
CMCL Caledonia Mining
6.6x-9.4%US$184.9m
DRD DRDGOLD
8.7xn/aUS$482.2m
DYNR DynaResource
4.7xn/aUS$43.1m
GORO Gold Resource
14.3xn/aUS$156.4m

Price-To-Earnings vs Peers: GORO is expensive based on its Price-To-Earnings Ratio (14.3x) compared to the peer average (7.1x).


Price to Earnings Ratio vs Industry

How does GORO's PE Ratio compare vs other companies in the US Metals and Mining Industry?

Price-To-Earnings vs Industry: GORO is expensive based on its Price-To-Earnings Ratio (14.3x) compared to the US Metals and Mining industry average (6.8x)


Price to Earnings Ratio vs Fair Ratio

What is GORO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GORO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate GORO's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of GORO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GORO ($1.77) is trading above our estimate of fair value ($0.64)

Significantly Below Fair Value: GORO is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

How is Gold Resource forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-3.5%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if GORO's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if GORO's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if GORO's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GORO's revenue is expected to decline over the next 3 years (-3.5% per year).

High Growth Revenue: GORO's revenue is forecast to decline over the next 3 years (-3.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if GORO's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Gold Resource performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-5.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GORO has high quality earnings.

Growing Profit Margin: GORO's current net profit margins (7.3%) are higher than last year (0.4%).


Past Earnings Growth Analysis

Earnings Trend: GORO's earnings have declined by 5.7% per year over the past 5 years.

Accelerating Growth: GORO's earnings growth over the past year (2379.5%) exceeds its 5-year average (-5.7% per year).

Earnings vs Industry: GORO earnings growth over the past year (2379.5%) exceeded the Metals and Mining industry 82.4%.


Return on Equity

High ROE: GORO's Return on Equity (8.7%) is considered low.


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Financial Health

How is Gold Resource's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: GORO's short term assets ($60.4M) exceed its short term liabilities ($23.4M).

Long Term Liabilities: GORO's short term assets ($60.4M) do not cover its long term liabilities ($64.2M).


Debt to Equity History and Analysis

Debt Level: GORO is debt free.

Reducing Debt: GORO currently has no debt however we can't compare to 5 years ago as we have no data for that period.

Debt Coverage: GORO has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: GORO has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Gold Resource current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.26%

Current Dividend Yield

Dividend Yield vs Market

Gold Resource Dividend Yield vs Market
How does Gold Resource dividend yield compare to the market?
SegmentDividend Yield
Company (Gold Resource)2.3%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Metals and Mining)3.3%
Analyst forecast in 3 Years (Gold Resource)n/a

Notable Dividend: GORO's dividend (2.26%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: GORO's dividend (2.26%) is low compared to the top 25% of dividend payers in the US market (4.53%).


Stability and Growth of Payments

Stable Dividend: GORO's dividends per share have been stable in the past 10 years.

Growing Dividend: GORO's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (30.2%), GORO's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (39%), GORO's dividend payments are well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Allen Palmiere (69 yo)

1.75yrs

Tenure

US$1,578,797

Compensation

Mr. Allen Joseph Palmiere, B.Comm., C.A. serves as Chief Executive Officer, President and Director at Gold Resource Corporation since January 1, 2021. He served as an Independent Director at Guyana Goldfie...


CEO Compensation Analysis

Allen Palmiere's Compensation vs Gold Resource Earnings
How has Allen Palmiere's remuneration changed compared to Gold Resource's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$11m

Mar 31 2022n/an/a

US$10m

Dec 31 2021US$2mUS$450k

US$8m

Compensation vs Market: Allen's total compensation ($USD1.58M) is about average for companies of similar size in the US market ($USD1.72M).

Compensation vs Earnings: Insufficient data to compare Allen's compensation with company performance.


Leadership Team

Experienced Management: GORO's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: GORO's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of GORO?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders238,8720.3%
Institutions26,771,34030.3%
General Public61,362,48069.4%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 18.6%.


Top Shareholders

Top 25 shareholders own 27.69% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
5.04%
Van Eck Associates Corporation
4,450,238$7.9m-7.28%0.02%
4.44%
The Vanguard Group, Inc.
3,926,375$6.9m-3.17%no data
2.56%
Mirae Asset Global Investments Co., Ltd
2,259,775$4.0m39.89%0.01%
1.73%
Dimensional Fund Advisors LP
1,532,694$2.7m-17.24%no data
1.71%
Ruffer LLP
1,509,723$2.7m-12.23%0.03%
1.47%
BlackRock, Inc.
1,300,022$2.3m2.05%no data
1.37%
Bridgeway Capital Management, LLC
1,210,948$2.1m291.64%0.05%
1.36%
Renaissance Technologies LLC
1,202,776$2.1m-2.21%no data
0.94%
ETF Managers Group LLC
827,935$1.5m3.87%0.04%
0.92%
Geode Capital Management, LLC
817,243$1.4m21.74%no data
0.89%
PSM Vermögensverwaltung GmbH Langen v.d. Goltz & Partner
784,292$1.4m-30.86%11.36%
0.79%
Ancora Advisors LLC
695,380$1.2m259.85%no data
0.63%
Two Sigma Advisers, LP
560,200$991.6k-19.02%no data
0.5%
Guild Investment Management, Inc.
439,505$777.9k-3.32%0.67%
0.47%
Perritt Capital Management, Inc.
415,800$736.0k-9.27%0.45%
0.36%
Two Sigma Investments, LP
316,464$560.1k-71.89%no data
0.36%
CQS Investment Management Limited
315,978$559.3k0%0.19%
0.33%
State Street Global Advisors, Inc.
294,216$520.8k-1.01%no data
0.33%
BNY Mellon Asset Management
290,017$513.3k2.52%no data
0.31%
Russell Investment Management, LLC
271,900$481.3k0%no data
0.29%
Hauck & AufhÄUser Fund Services S.A.
259,055$458.5k0%0.03%
0.25%
Marshall Wace LLP
224,315$397.0k208.81%no data
0.24%
D. E. Shaw & Co., L.P.
208,683$369.4k-55.58%no data
0.22%
Northern Trust Global Investments
191,659$339.2k0.6%no data
0.19%
Morgan Stanley, Investment Banking and Brokerage Investments
165,057$292.2k-17.55%no data

Company Information

Gold Resource Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Gold Resource Corporation
  • Ticker: GORO
  • Exchange: NYSEAM
  • Founded: 1998
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: US$156.420m
  • Shares outstanding: 88.37m
  • Website: https://www.goldresourcecorp.com

Number of Employees


Location

  • Gold Resource Corporation
  • 7900 East Union Avenue
  • Suite 320
  • Denver
  • Colorado
  • 80237
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GORONYSEAM (NYSE MKT LLC)YesCommon StockUSUSDSep 2006
GIHDB (Deutsche Boerse AG)YesCommon StockDEEURSep 2006
0IYSLSE (London Stock Exchange)YesCommon StockGBUSDSep 2006

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.