Stock to Keep Your Eyes on: Gold Resource Corporation (NYSE: GORO)
On Tuesday, Gold Resource Corporation (NYSE: GORO) stock price moved up at 3.46%. Its total market capitalization is $294300161. Its day lowest price was $4.26 and its hit its day highest price at $4.48. The stock recent volume is 0 shares in comparison to its average trading volume of 879714 shares. Looking at the stock’s price level on the past 52-week graph, GORO recorded a 52-week high of $5.09 and its 52-week low of $2.73.
Gold Resource Corporation (GORO) stated record gold production results for the third quarter ended September 30, 2019 of 11,165 ounces of gold. In addition, the Company produced 477,297 ounces of silver, which together with base metal revenue generated $40.1M in net revenue and $3.0M, or $0.05 per share, in net income for the quarter. The Company recently increased its 2019 global gold production outlook 42% to 38,400 ounces, as the Isabella Pearl mine in Mineral County, Nevada continues its production ramp up†. The Company also maintains its 2019 Oaxaca Mining Unit (“OMU”) silver production outlook of 1.7M ounces†. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $112M to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Overview of Q3 2019 Results
Third quarter OMU production totaled 7,462 ounces of gold, 473,810 ounces of silver, 492 tonnes of copper, 2,459 tonnes of lead and 6,057 tonnes of zinc. Through the first three quarters of 2019, OMU production numbers total 21,881 ounces of gold, 1,304,975 ounces of silver, 1,407 tonnes of copper, 6,916 tonnes of lead and 17,949 tonnes of zinc. Third quarter production from the Company’s Nevada Mining Unit (NMU) totaled 3,703 ounces of gold. Since producing first gold in April 2019, the NMU has produced 5,381 ounces of gold through September 30, 2019.
The Company maintains its 2019 OMU yearly outlook, targeting 27,000 gold ounces and 1,700,000 silver ounces†. In addition, the Company’s NMU targets 6,000 ounces of gold production for the fourth quarter of 2019†. This fourth quarter production target paired with 5,381 gold ounces produced year-to-date, increases the Company’s global 2019 yearly gold production outlook to 38,400 ounces†.
The Company sold 10,887 precious metal gold equivalent ounces at a total cash cost of $197 per ounce (after by-product credits) at its OMU, benefiting from strong base metal production and sales. OMU average realized metal prices during the quarter included $1,490 per ounce gold and $17.08 per ounce silver*. The Company sold 4,044 gold ounces from its Isabella Pearl mine at an average realized price of $1,481 per gold ounce*. The Company recorded net income of $3.0M, or $0.05 per share, and paid $0.3M to its shareholders in dividends, or $0.005 per share during the quarter. Cash and cash equivalents at quarter end totaled $8.8M.
“Our Oaxaca Mining Unit’s strong operational results, coupled with our continued ramp up of our Isabella Pearl mine, which recently reported commercial production, resulted in record gold production for the third quarter,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation. “The Company is on a trajectory to increase its future global yearly gold production by over 100 percent. We are also on a trajectory of shifting the Company’s primary revenue distribution to gold with continued excellent exposure to silver and base metals. In addition, we have become a multi-jurisdictional mining company with two producing mining units and a vast property portfolio. These and other positive results enabled the Company’s Board of Directors to increase the monthly instituted dividend 100 percent with last week’s October dividend declaration.”
GORO jumped 2.99% in past week and climbed 32.15% in one month. During the past three-month period the stock surged 36.59% and increased 39.13% in past six month while year to date performance of 12.00%. Net profit margin of the firm was recorded at 5.20% and operating profit margin was calculated at 12.50% while gross profit margin was measured as 23.50%.
Jasmine Gerber – Market Movers
I am known as Jasmine Gerber, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about technology and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.
