For the first quarter Gold Resource reported earnings of 13 cents a share, beating the Capital IQ Consensus Estimate of 5 cents a share by 8 cents. Revenue fell -26.4% from the year-ago quarter to $31.15 million. Analysts expected revenue of $28.8 million for the quarter.
"During the first quarter, the Company delivered strong operating results with production increasing 15% over the prior quarter," Gold Resource CEO and President Mr. Jason Reid said in a press release. "Equally important, we substantially drove down our total cash costs by 38% compared to the fourth quarter of 2013. In addition, we continued to distribute our monthly dividend and increased our treasury by $4.5 million over the prior quarter. With a strong first quarter, the Company is on track to meet its annual production outlook goal."
Must read: Warren Buffett's 10 Favorite Growth Stocks
TheStreet Ratings team rates GOLD RESOURCE CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOLD RESOURCE CORP (GORO) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."