Gold Resource Corp. (GORO)
:GORO
Want to see GORO full AI Analyst Report?
Top Page
Gold Resource
(GORO)
Select Model
Select Model
Rating:62Neutral
Price Target:
$1.50
▼(-5.06% Downside)
Action:Reiterated
Date:05/12/26
The score is driven primarily by improving financial performance (return to profitability, stronger cash generation, and a debt-free balance sheet) and a constructive earnings-call outlook targeting production scale-up. Offsetting these positives are weak technical momentum and meaningful operating execution risks (elevated AISC, interruptions, safety, and restart/merger execution).
Positive Factors
Debt-free balance sheet
A debt‑free balance sheet materially reduces financial risk and preserves capital flexibility for sustaining capex, drilling and restarts. Over 2–6 months this strengthens the company’s ability to fund operational upgrades and respond to price or operational setbacks without near‑term refinancing.
Negative Factors
Elevated unit costs (AISC)
Persistently high AISC weakens margin durability and makes cash flow sensitive to commodity price weakness. Given underground mining's inherently higher cost profile and current AISC above peer long‑term targets, structural margin compression remains a key medium‑term risk to profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt‑free balance sheet materially reduces financial risk and preserves capital flexibility for sustaining capex, drilling and restarts. Over 2–6 months this strengthens the company’s ability to fund operational upgrades and respond to price or operational setbacks without near‑term refinancing.
Read all positive factors
Gold Resource Key Performance Indicators (KPIs)
Gold Resource (GORO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$212.07M
Dividend YieldN/A
Average Volume (3M)2.93M
Price to Earnings (P/E)10.2
Beta (1Y)2.03
Revenue Growth112.09%
EPS GrowthN/A
CountryUS
Employees480
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.05
Shares Outstanding161,882,900
10 Day Avg. Volume3,788,272
30 Day Avg. Volume2,928,659
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)2.58
Price to Sales (P/S)1.22
P/FCF Ratio176.55
Enterprise Value/Market Cap1.11
Enterprise Value/Revenue1.83
Enterprise Value/Gross Profit5.73
Enterprise Value/Ebitda6.67
Forecast
1Y Price Target
$1.75Price Target Upside10.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.04
Revenue Forecast (FY)$135.66M
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 Bac...
How the Company Makes Money
Gold Resource Corporation primarily makes money by selling the metals it produces from its mining operations. Its main revenue streams are (1) sales of precious metals (gold and silver) and (2) sales of base metals (such as copper, lead, and zinc)...
Gold Resource Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed a markedly positive operational and financial turnaround: the company achieved profitability, strengthened cash and gross profit, reduced dilution substantially by changing mining methods, and is investing meaningfully in development, exploration and processing upgrades. Strategic initiatives (Back Forty feasibility and the proposed Gold Group merger) target a material scale-up to >100,000 oz gold-equivalent production and an aggressive drilling program. Key challenges remain: AISC and cash costs are elevated though trending down, the quarter experienced production interruptions (union blockade and portal improvements), two LTIs were recorded, processing redundancy and equipment refurbishments are necessities, and several assets (e.g., San Francisco) require capital and restart work. On balance, the operational momentum, cash position, milestone profitability and growth strategy outweigh the near-term cost and operational risks.Positive Updates
Return to Profitability
First quarter 2026 delivered net income of $4.7 million ($0.03 per share), the company's first positive quarterly net income since 2021. This represents an approximate net margin of 10.7% on nearly $44 million in net sales.
Negative Updates
High Unit Costs Above Long-Term Targets
Cash cost per gold-equivalent ounce was $2,164 and all-in sustaining costs (AISC) were $3,476 per gold-equivalent ounce — both above the Company's long-term targets. Management noted a downward trend but AISC remains elevated and above peer long-term targets.
Read all updates
Q1-2026 Updates
Positive
Negative
Return to Profitability
First quarter 2026 delivered net income of $4.7 million ($0.03 per share), the company's first positive quarterly net income since 2021. This represents an approximate net margin of 10.7% on nearly $44 million in net sales.
Read all positive updates
Company Guidance
The call’s forward-looking guidance centered on building scale and accelerating near‑term production: management targets a pro forma run‑rate of greater than 100,000 gold‑equivalent ounces within 12 months and announced an active drilling program of “over 50,000 meters” (later clarified to roughly 70,000 m total — ~50,000 m exploration plus ~20,000 m infill, with ~24,000 m at Cerro Prieto, a similar amount at San Francisco and the balance at Don David). Asset assumptions cited include Don David ~50,000 oz/year current run‑rate, San Francisco ~50,000 oz/year (2020 PEA), and Cerro Prieto 20–30,000 oz/year; management expects San Francisco restart early Q1 2027, and forecasts the combined Gold Group contribution of roughly 70–80,000 oz/year at an AISC under $2,000 within ~12 months. Other near‑term operational targets include completing a definitive feasibility study for Back Forty in Q1 next year (then submitting permits and starting construction), increasing Alta Gracia from ~1,500 t/month now to 3,000 t/month in Q3 and ~5,000 t/month by year‑end (lifting mill throughput from ~30,000 t to ~35,000 t), installing the dry‑stack clear filter press next quarter and a third filter by Q3, while current unit metrics were reported at $2,164 cash cost/Gold‑eq oz and $3,476 AISC, and the company closed Q1 with $31M cash, nearly $44M net sales and net income of $4.7M ($0.03/share).Gold Resource Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 128.22M | 93.26M | 64.76M | 97.76M | 139.09M | 124.19M |
| Gross Profit | 40.98M | 17.63M | -23.80M | -11.01M | 17.06M | 30.71M |
| EBITDA | 35.21M | 24.92M | -26.57M | -3.22M | 30.27M | 34.01M |
| Net Income | 6.60M | -6.46M | -56.50M | -24.14M | -6.32M | 8.03M |
Balance Sheet | ||||||
| Total Assets | 196.42M | 184.06M | 145.87M | 183.97M | 210.10M | 215.76M |
| Cash, Cash Equivalents and Short-Term Investments | 31.02M | 25.01M | 1.63M | 6.25M | 23.68M | 33.71M |
| Total Debt | 95.60M | 49.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 147.61M | 140.03M | 118.59M | 103.55M | 98.33M | 95.01M |
| Stockholders Equity | 48.81M | 44.03M | 27.28M | 80.43M | 111.76M | 120.75M |
Cash Flow | ||||||
| Free Cash Flow | 11.51M | 644.00K | -8.25M | -17.71M | -4.08M | 14.17M |
| Operating Cash Flow | 38.63M | 21.70M | -627.00K | -5.22M | 14.16M | 34.78M |
| Investing Cash Flow | -27.12M | -20.21M | -6.44M | -12.49M | -19.44M | -22.97M |
| Financing Cash Flow | 6.77M | 22.11M | 2.71M | 62.00K | -3.91M | -3.06M |
Gold Resource Technical Analysis
Positive
1.58
Price Trends
1.40
Positive
1.21
Positive
0.95
Positive
Market Momentum
0.07
Negative
63.71
Neutral
81.42
Negative
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 1.58 is above the 20-day moving average (MA) of 1.28, above the 50-day MA of 1.40, and above the 200-day MA of 0.95, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 63.71 is Neutral, neither overbought nor oversold. The STOCH value of 81.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GORO.
Gold Resource Risk Analysis
Gold Resource disclosed 37 risk factors in its most recent earnings report. Gold Resource reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
There is substantial doubt about whether the Company can continue as a going concern. Q3, 2024
Gold Resource Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $212.07M | 10.25 | 19.13% | ― | 112.09% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | $690.51M | -5.65 | -28.15% | ― | ― | 33.11% | |
50 Neutral | $120.96M | -7.04 | -44.50% | ― | ― | -57.39% | |
47 Neutral | $80.63M | ― | 45.61% | ― | ― | ― |
* Basic Materials Sector Average
GORO
Gold Resource
1.31
0.67
104.05%
USAU
US Gold
15.89
5.11
47.40%
PZG
Paramount Gold Nevada
1.41
0.90
178.66%
CTGO
Contango ORE
22.44
6.13
37.58%
NAMM
Namib Minerals
1.48
-7.96
-84.32%
BGL
Blue Gold
0.95
-3.10
-76.54%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.