Gold Resource Corp ( GORO ) is a basic materials company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on GORO's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Gold Resource could be a solid choice for investors.
Current Quarter Estimates for GORO
In the past 30 days, 1 estimate moved up for Gold Resource but there was no downward revision. The consensus estimate trend has been pretty favourable, with estimates increasing from 5 cents a share 30 days ago, to 15 cents today, a move of 200%.
Current Year Estimates for GORO
Meanwhile, Gold Resource's current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from 35 cents per share 30 days ago to 60 cents per share today, an increase of 71.4 %.
The stock has also started to move higher lately, adding 9.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 Gold Resource stock to profit in the near future.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.