Gold Resource (GORO) AI Stock Analysis

• Market Cap: $270.30M
• Dividend Yield: N/A
• Average Volume (3M): 2.93M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.87
• Revenue Growth: -15.35%
• EPS Growth: 30.92%
• Country: US
• Employees: 480
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.03
• Shares Outstanding: 161,858,860
• 10 Day Avg. Volume: 3,788,272
• 30 Day Avg. Volume: 2,928,659
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 0.33
• P/FCF Ratio: -2.57
• Enterprise Value/Market Cap: 0.69
• Enterprise Value/Revenue: 3.07
• Enterprise Value/Gross Profit: -23.08
• Enterprise Value/Ebitda: -7.37
• 1Y Price Target: $2.00
• Price Target Upside: 21.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $1.50 ▼(-8.54% Downside)

The score is held down primarily by weak financial performance (deep losses, negative gross profitability, and negative free cash flow despite low debt). Offsetting this, technicals show an improving uptrend and the earnings call suggests an operational turnaround in Oaxaca/Three Sisters, but execution and disruption risks remain and valuation support is limited due to negative earnings.

Positive Factors

Low Leverage / No Reported Debt

Reported zero total debt materially reduces financial distress risk and preserves borrowing capacity. For a capital-intensive miner, low leverage improves resilience through commodity cycles, gives flexibility to fund development via equity or debt when needed, and lowers near-term default risk.

Major New Production Source (Three Sisters)

A potential 40–50% production contribution from Three Sisters is a structural growth driver, diversifying ore sources and scaling output. If sustained, higher throughput from a high-grade zone can improve unit economics, spread fixed costs, and materially lift long-term cash generation potential.

Improved Mining Method Reduces Dilution

Adopting cut-and-fill mining that cuts dilution materially raises mined grade and recoverable ounces per tonne. Over months this supports higher realized grades and better recoveries, which can sustainably improve mining margins even if unit mining costs rise, enhancing long-term operational quality.

Negative Factors

Persistent Unprofitability

Deep, sustained negative margins indicate the business is structurally loss-making: revenue increases have not translated into profits. Over 2–6 months this erodes equity, limits reinvestment, and requires material operational turnaround or cost control to restore durable profitability and preserve capital.

Negative Free Cash Flow / Weak Cash Generation

Meaningfully negative free cash flow signals the company cannot self-fund development and is burning cash. Persisting FCF deficits force reliance on external capital, increasing dilution or debt risk and constraining sustained investment in development projects and sustaining capital over the medium term.

Operational Disruption & Safety Risks

Community, contractor or union disruptions and safety incidents are structural operational risks in mining. Such events can repeatedly interrupt access, delay ramp-ups, raise security and legal costs, and require ongoing stakeholder management, undermining reliable production and long-term project timelines.

Gold Resource Business Overview & Revenue Model

Company Description

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. The company was founded in 1998 and is headquartered in Denver, Colorado.

How the Company Makes Money

Gold Resource Corporation generates revenue primarily through the sale of gold and silver produced from its mining operations. The company's revenue model is based on the extraction of precious metals, which are then refined and sold in both physical forms and through financial instruments. Key revenue streams include the direct sales of gold and silver concentrate to wholesalers and retailers, as well as the potential for royalties from various mining activities. Additionally, GORO may engage in partnerships with other mining companies or financial institutions to enhance its operational capabilities and market reach, further contributing to its earnings.

Gold Resource Financial Statement Overview

Summary

Financial statements show significant stress: negative gross profit and very large losses (net margin around -63%) alongside meaningfully negative free cash flow (-$12.8M) indicate weak underlying profitability and cash generation. Low reported debt reduces balance-sheet risk, but equity has fallen sharply versus prior years, reflecting heavy cumulative losses and a weakened capital base.

Income Statement

Profitability has deteriorated sharply: TTM (Trailing-Twelve-Months) revenue rose to $61.2M (up 22.6%), but gross profit remains negative and losses are very large (net margin about -63%). The company was profitable in 2021 with solid margins, but since 2022 it has swung into sustained and deepening losses, indicating weak operating leverage and cost pressure that is overwhelming revenue changes.

Balance Sheet

Leverage appears low with reported total debt at $0 in recent periods, which reduces financial risk. However, equity has fallen materially versus prior years (from ~$120.8M in 2021 to ~$26.0M in the TTM period), reflecting heavy cumulative losses and a weakened capital base. Returns on equity are deeply negative in the most recent periods, which is a key balance-sheet quality concern despite the lack of debt.

Cash Flow

Cash generation is weak: TTM (Trailing-Twelve-Months) operating cash flow is barely positive (~$0.1M) while free cash flow is meaningfully negative (-$12.8M), implying ongoing cash burn. Prior years show volatility (strongly positive operating cash flow in 2020–2022, then negative in 2023–2024), and the current profile suggests the business is not self-funding at present.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	61.16M	64.76M	97.76M	139.09M	124.19M	90.69M
Gross Profit	-8.13M	-23.80M	-11.01M	17.06M	30.71M	30.05M
EBITDA	-25.46M	-26.57M	-3.22M	30.27M	34.01M	18.25M
Net Income	-38.71M	-56.50M	-24.14M	-6.32M	8.03M	-6.33M
Balance Sheet
Total Assets	164.34M	145.87M	183.97M	210.10M	215.76M	105.73M
Cash, Cash Equivalents and Short-Term Investments	9.80M	1.63M	6.25M	23.68M	33.71M	25.41M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	138.38M	118.59M	103.55M	98.33M	95.01M	15.20M
Stockholders Equity	25.96M	27.28M	80.43M	111.76M	120.75M	90.54M
Cash Flow
Free Cash Flow	-12.82M	-8.25M	-17.71M	-4.08M	14.17M	22.59M
Operating Cash Flow	110.00K	-627.00K	-5.22M	14.16M	34.78M	35.40M
Investing Cash Flow	-12.08M	-6.44M	-12.49M	-19.44M	-22.97M	-14.45M
Financing Cash Flow	12.61M	2.71M	62.00K	-3.91M	-3.06M	-5.22M

Gold Resource Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.64
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GORO, the sentiment is Positive. The current price of 1.64 is above the 20-day moving average (MA) of 1.59, above the 50-day MA of 1.22, and above the 200-day MA of 0.80, indicating a bullish trend. The MACD of 0.12 indicates Positive momentum. The RSI at 58.25 is Neutral, neither overbought nor oversold. The STOCH value of 61.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GORO.

Gold Resource Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CTGO	55 Neutral	$454.87M	-142.55	-10.05%	―	―	97.09%
PZG	54 Neutral	$178.52M	-11.44	-34.40%	―	―	-35.79%
GORO	52 Neutral	$270.30M	-4.78	-92.98%	―	-15.35%	30.92%

Gold Resource Corporate Events

Gold Resource Resumes Operations After Oaxaca Mine Blockade

On February 2, 2026, Gold Resource Corporation said an illegal blockade that had been restricting access to its Don David Gold Mine in Oaxaca, Mexico, had been lifted, allowing mining and processing operations to safely resume. The blockade, which began after approximately 20 employees of four contractors whose agreements were terminated following notice from the CTM union protested, was resolved without incident; the company stressed the dispute was an internal matter among union factions and contractors and that it remained neutral, while thanking employees, union members, community stakeholders and government partners for their role in resolving the situation.

The most recent analyst rating on (GORO) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Gold Resource stock, see the GORO Stock Forecast page.