Intrinsic value of Gold Resource - GORO

Previous Close

$3.93

  Intrinsic Value

$90.11

stock screener

  Rating & Target

str. buy

+999%

Previous close

$3.93

 
Intrinsic value

$90.11

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of GORO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  43.80
  39.92
  36.43
  33.29
  30.46
  27.91
  25.62
  23.56
  21.70
  20.03
  18.53
  17.18
  15.96
  14.86
  13.88
  12.99
  12.19
  11.47
  10.82
  10.24
  9.72
  9.25
  8.82
  8.44
  8.09
  7.79
  7.51
  7.26
  7.03
  6.83
Revenue, $m
  158
  222
  302
  403
  526
  673
  845
  1,044
  1,270
  1,525
  1,807
  2,118
  2,456
  2,821
  3,212
  3,629
  4,072
  4,539
  5,030
  5,545
  6,084
  6,647
  7,233
  7,843
  8,478
  9,138
  9,824
  10,537
  11,278
  12,048
Variable operating expenses, $m
  45
  63
  85
  114
  148
  190
  238
  294
  358
  430
  510
  597
  693
  795
  906
  1,024
  1,148
  1,280
  1,419
  1,564
  1,716
  1,874
  2,040
  2,212
  2,391
  2,577
  2,770
  2,972
  3,180
  3,398
Fixed operating expenses, $m
  52
  53
  54
  56
  57
  58
  59
  61
  62
  63
  65
  66
  68
  69
  71
  72
  74
  75
  77
  79
  81
  82
  84
  86
  88
  90
  92
  94
  96
  98
Total operating expenses, $m
  97
  116
  139
  170
  205
  248
  297
  355
  420
  493
  575
  663
  761
  864
  977
  1,096
  1,222
  1,355
  1,496
  1,643
  1,797
  1,956
  2,124
  2,298
  2,479
  2,667
  2,862
  3,066
  3,276
  3,496
Operating income, $m
  62
  106
  163
  234
  321
  425
  547
  689
  850
  1,031
  1,233
  1,454
  1,696
  1,956
  2,236
  2,534
  2,850
  3,183
  3,535
  3,903
  4,288
  4,690
  5,109
  5,546
  6,000
  6,472
  6,962
  7,472
  8,002
  8,553
EBITDA, $m
  83
  136
  204
  289
  392
  516
  662
  831
  1,023
  1,239
  1,479
  1,743
  2,030
  2,340
  2,673
  3,028
  3,404
  3,801
  4,219
  4,657
  5,116
  5,595
  6,093
  6,613
  7,153
  7,715
  8,299
  8,906
  9,537
  10,192
Interest expense (income), $m
  0
  0
  1
  1
  2
  3
  4
  6
  7
  9
  11
  14
  17
  20
  23
  27
  30
  34
  39
  43
  48
  53
  58
  64
  69
  75
  82
  88
  95
  102
  109
Earnings before tax, $m
  61
  105
  161
  232
  318
  421
  542
  681
  841
  1,020
  1,219
  1,438
  1,676
  1,933
  2,209
  2,503
  2,815
  3,145
  3,491
  3,855
  4,235
  4,632
  5,045
  5,476
  5,924
  6,390
  6,874
  7,377
  7,900
  8,444
Tax expense, $m
  17
  28
  44
  63
  86
  114
  146
  184
  227
  275
  329
  388
  452
  522
  596
  676
  760
  849
  943
  1,041
  1,143
  1,251
  1,362
  1,479
  1,600
  1,725
  1,856
  1,992
  2,133
  2,280
Net income, $m
  45
  77
  118
  169
  232
  307
  395
  497
  614
  745
  890
  1,050
  1,223
  1,411
  1,613
  1,827
  2,055
  2,296
  2,549
  2,814
  3,091
  3,381
  3,683
  3,998
  4,325
  4,665
  5,018
  5,385
  5,767
  6,164

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  174
  243
  332
  442
  577
  738
  927
  1,146
  1,394
  1,674
  1,984
  2,325
  2,696
  3,096
  3,526
  3,984
  4,470
  4,982
  5,522
  6,087
  6,679
  7,296
  7,940
  8,610
  9,307
  10,031
  10,784
  11,567
  12,380
  13,225
Adjusted assets (=assets-cash), $m
  174
  243
  332
  442
  577
  738
  927
  1,146
  1,394
  1,674
  1,984
  2,325
  2,696
  3,096
  3,526
  3,984
  4,470
  4,982
  5,522
  6,087
  6,679
  7,296
  7,940
  8,610
  9,307
  10,031
  10,784
  11,567
  12,380
  13,225
Revenue / Adjusted assets
  0.908
  0.914
  0.910
  0.912
  0.912
  0.912
  0.912
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
  0.911
Average production assets, $m
  110
  154
  210
  280
  365
  467
  586
  724
  882
  1,058
  1,254
  1,470
  1,704
  1,958
  2,229
  2,519
  2,826
  3,150
  3,491
  3,848
  4,222
  4,613
  5,020
  5,443
  5,884
  6,342
  6,818
  7,313
  7,827
  8,361
Working capital, $m
  3
  4
  6
  8
  11
  13
  17
  21
  25
  30
  36
  42
  49
  56
  64
  73
  81
  91
  101
  111
  122
  133
  145
  157
  170
  183
  196
  211
  226
  241
Total debt, $m
  12
  24
  38
  56
  79
  105
  136
  172
  213
  258
  309
  365
  426
  492
  562
  637
  717
  801
  889
  982
  1,079
  1,181
  1,286
  1,396
  1,510
  1,629
  1,753
  1,881
  2,014
  2,153
Total liabilities, $m
  29
  40
  54
  73
  95
  121
  152
  188
  229
  275
  325
  381
  442
  508
  578
  653
  733
  817
  906
  998
  1,095
  1,197
  1,302
  1,412
  1,526
  1,645
  1,769
  1,897
  2,030
  2,169
Total equity, $m
  145
  203
  277
  370
  482
  617
  775
  958
  1,166
  1,399
  1,659
  1,943
  2,254
  2,589
  2,948
  3,331
  3,737
  4,165
  4,616
  5,089
  5,583
  6,100
  6,638
  7,198
  7,780
  8,386
  9,016
  9,670
  10,350
  11,056
Total liabilities and equity, $m
  174
  243
  331
  443
  577
  738
  927
  1,146
  1,395
  1,674
  1,984
  2,324
  2,696
  3,097
  3,526
  3,984
  4,470
  4,982
  5,522
  6,087
  6,678
  7,297
  7,940
  8,610
  9,306
  10,031
  10,785
  11,567
  12,380
  13,225
Debt-to-equity ratio
  0.090
  0.120
  0.140
  0.150
  0.160
  0.170
  0.180
  0.180
  0.180
  0.180
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
Adjusted equity ratio
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836
  0.836

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  45
  77
  118
  169
  232
  307
  395
  497
  614
  745
  890
  1,050
  1,223
  1,411
  1,613
  1,827
  2,055
  2,296
  2,549
  2,814
  3,091
  3,381
  3,683
  3,998
  4,325
  4,665
  5,018
  5,385
  5,767
  6,164
Depreciation, amort., depletion, $m
  22
  30
  41
  55
  72
  92
  115
  142
  173
  208
  246
  288
  334
  384
  437
  494
  554
  618
  685
  755
  828
  904
  984
  1,067
  1,154
  1,244
  1,337
  1,434
  1,535
  1,639
Funds from operations, $m
  66
  107
  159
  224
  303
  398
  510
  639
  787
  952
  1,136
  1,338
  1,558
  1,795
  2,050
  2,321
  2,609
  2,913
  3,233
  3,569
  3,919
  4,286
  4,667
  5,065
  5,478
  5,908
  6,355
  6,819
  7,302
  7,803
Change in working capital, $m
  1
  1
  2
  2
  2
  3
  3
  4
  5
  5
  6
  6
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  15
Cash from operations, $m
  65
  106
  157
  222
  301
  396
  507
  636
  782
  947
  1,130
  1,331
  1,551
  1,788
  2,042
  2,313
  2,600
  2,904
  3,223
  3,558
  3,909
  4,274
  4,656
  5,053
  5,466
  5,895
  6,341
  6,805
  7,287
  7,788
Maintenance CAPEX, $m
  -15
  -22
  -30
  -41
  -55
  -72
  -92
  -115
  -142
  -173
  -208
  -246
  -288
  -334
  -384
  -437
  -494
  -554
  -618
  -685
  -755
  -828
  -904
  -984
  -1,067
  -1,154
  -1,244
  -1,337
  -1,434
  -1,535
New CAPEX, $m
  -34
  -44
  -56
  -70
  -85
  -102
  -120
  -138
  -157
  -177
  -196
  -215
  -235
  -253
  -272
  -290
  -307
  -324
  -341
  -358
  -374
  -390
  -407
  -424
  -441
  -458
  -476
  -495
  -514
  -534
Cash from investing activities, $m
  -49
  -66
  -86
  -111
  -140
  -174
  -212
  -253
  -299
  -350
  -404
  -461
  -523
  -587
  -656
  -727
  -801
  -878
  -959
  -1,043
  -1,129
  -1,218
  -1,311
  -1,408
  -1,508
  -1,612
  -1,720
  -1,832
  -1,948
  -2,069
Free cash flow, $m
  17
  40
  71
  111
  161
  222
  296
  382
  483
  598
  727
  870
  1,028
  1,200
  1,386
  1,586
  1,800
  2,026
  2,265
  2,516
  2,780
  3,056
  3,344
  3,645
  3,958
  4,283
  4,622
  4,973
  5,339
  5,719
Issuance/(repayment) of debt, $m
  9
  11
  15
  18
  22
  26
  31
  36
  41
  46
  51
  56
  61
  66
  70
  75
  80
  84
  88
  93
  97
  101
  106
  110
  114
  119
  123
  128
  133
  139
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  9
  11
  15
  18
  22
  26
  31
  36
  41
  46
  51
  56
  61
  66
  70
  75
  80
  84
  88
  93
  97
  101
  106
  110
  114
  119
  123
  128
  133
  139
Total cash flow (excl. dividends), $m
  26
  52
  86
  129
  183
  249
  327
  418
  524
  643
  777
  926
  1,089
  1,266
  1,457
  1,661
  1,879
  2,110
  2,353
  2,609
  2,877
  3,157
  3,450
  3,755
  4,072
  4,402
  4,745
  5,102
  5,472
  5,858
Retained Cash Flow (-), $m
  -44
  -58
  -74
  -92
  -113
  -135
  -158
  -183
  -208
  -234
  -259
  -285
  -310
  -335
  -359
  -383
  -406
  -429
  -451
  -473
  -494
  -516
  -538
  -560
  -583
  -606
  -630
  -654
  -680
  -707
Prev. year cash balance distribution, $m
  11
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -8
  -6
  12
  37
  70
  114
  169
  236
  316
  410
  518
  641
  779
  931
  1,098
  1,279
  1,473
  1,681
  1,902
  2,136
  2,383
  2,641
  2,912
  3,195
  3,489
  3,796
  4,116
  4,448
  4,793
  5,151
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -7
  -6
  10
  30
  55
  83
  114
  147
  181
  215
  246
  274
  296
  313
  322
  325
  321
  310
  293
  271
  246
  219
  191
  163
  136
  111
  88
  69
  52
  39
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Gold Resource Corporation is a mining company. The Company is a producer of metal concentrates that contain gold, silver, copper, lead and zinc, and dore containing gold and silver at the Aguila Project within its Oaxaca Mining Unit located in the southern state of Oaxaca, Mexico. The Company has two units in North America, the Oaxaca Mining Unit and the Nevada Mining Unit. The Company's mineral properties are classified into two categories, such as Operating Properties and Exploration Properties. As of December 31, 2016, the Company had interest in nine properties, where over six of its properties, including one Operating Property and five Exploration Properties, are within its Oaxaca Mining Unit, which is located in the southern state of Oaxaca, Mexico. As of December 31, 2016, the Company also had three Exploration Properties within its Nevada Mining Unit located in south central Nevada's Walker Lane Mineral Belt in the United States.

FINANCIAL RATIOS  of  Gold Resource (GORO)

Valuation Ratios
P/E Ratio 55.6
Price to Sales 2.7
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 12.4
Price to Free Cash Flow 74.1
Growth Rates
Sales Growth Rate -10.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -44.4%
Cap. Spend. - 3 Yr. Gr. Rate 13.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0.4
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 3.6%
Ret/ On Assets - 3 Yr. Avg. 7.2%
Return On Total Capital 4.1%
Ret/ On T. Cap. - 3 Yr. Avg. 8.4%
Return On Equity 4.1%
Return On Equity - 3 Yr. Avg. 8.6%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 26.5%
Gross Margin - 3 Yr. Avg. 34.4%
EBITDA Margin 26.5%
EBITDA Margin - 3 Yr. Avg. 26.1%
Operating Margin 9.6%
Oper. Margin - 3 Yr. Avg. 16.9%
Pre-Tax Margin 10.8%
Pre-Tax Margin - 3 Yr. Avg. 16.2%
Net Profit Margin 4.8%
Net Profit Margin - 3 Yr. Avg. 7%
Effective Tax Rate 55.6%
Eff/ Tax Rate - 3 Yr. Avg. 59.1%
Payout Ratio 50%

GORO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GORO stock intrinsic value calculation we used $110.156 million for the last fiscal year's total revenue generated by Gold Resource. The default revenue input number comes from 0001 income statement of Gold Resource. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GORO stock valuation model: a) initial revenue growth rate of 43.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for GORO is calculated based on our internal credit rating of Gold Resource, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Gold Resource.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GORO stock the variable cost ratio is equal to 28.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $51 million in the base year in the intrinsic value calculation for GORO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Gold Resource.

Corporate tax rate of 27% is the nominal tax rate for Gold Resource. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GORO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GORO are equal to 69.4%.

Life of production assets of 5.1 years is the average useful life of capital assets used in Gold Resource operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GORO is equal to 2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $112.106 million for Gold Resource - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 57.592 million for Gold Resource is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Gold Resource at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
NEM Newmont Mining 32.40 4.94  str.sell
RGLD Royal Gold 72.51 9.39  str.sell

COMPANY NEWS

▶ Gold Resource: 3Q Earnings Snapshot   [Oct-30-18 07:29PM  Associated Press]
▶ Gold Resource: 2Q Earnings Snapshot   [Jul-31-18 04:56PM  Associated Press]
▶ GOLD RESOURCE CORPORATION DECLARES JULY MONTHLY DIVIDEND   [Jul-24-18 04:30PM  GlobeNewswire]
▶ GOLD RESOURCE CORPORATION DECLARES JUNE MONTHLY DIVIDEND   [Jun-25-18 07:00PM  GlobeNewswire]
▶ Gold Resource Corporation Declares May Monthly Dividend   [May-24-18 04:15PM  GlobeNewswire]
▶ Gold Resource: 1Q Earnings Snapshot   [May-01-18 07:14PM  Associated Press]
▶ Gold Resource Corporation Declares April Monthly Dividend   [Apr-26-18 04:30PM  GlobeNewswire]
▶ Gold Resource Corporation Declares March Monthly Dividend   [Mar-26-18 06:00PM  GlobeNewswire]
▶ Gold Resource Corporation Declares January Monthly Dividend   [Jan-24-18 04:15PM  GlobeNewswire]
▶ Gold Resource posts 3Q profit   [Oct-31-17 05:44PM  Associated Press]
▶ Gold Resource Corporation Third Quarter Conference Call   [Oct-30-17 04:30PM  Marketwired]
▶ When Should You Sell Gold Resource Corp (GORO)?   [Oct-06-17 07:39AM  Simply Wall St.]
▶ Gold Resource posts 2Q profit   [Aug-02-17 12:05AM  Associated Press]
▶ Gold Resource Corporation Second Quarter Conference Call   [Jul-31-17 05:00PM  Marketwired]
▶ Gold Resource Corporation Declares July Monthly Dividend   [Jul-25-17 04:15PM  Marketwired]
▶ ETFs with exposure to Gold Resource Corp. : June 29, 2017   [Jun-29-17 03:02PM  Capital Cube]
▶ Gold Resource Corporation Declares June Monthly Dividend   [Jun-26-17 04:46PM  Marketwired]
▶ Gold Resource Corporation Declares May Monthly Dividend   [May-25-17 08:00AM  Marketwired]
▶ ETFs with exposure to Gold Resource Corp. : May 9, 2017   [May-09-17 04:39PM  Capital Cube]
▶ Gold Resource posts 1Q profit   [May-03-17 05:02AM  Associated Press]
▶ Gold Resource Corporation First Quarter Conference Call   [May-01-17 06:34PM  Marketwired]

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