Gold Resource (GORO -1.6%) is downgraded to Reduce from Neutral with an $8 target (from $9) at...

|About: Gold Resource Corporation (GORO)|By:, SA News Editor

Gold Resource (GORO -1.6%) is downgraded to Reduce from Neutral with an $8 target (from $9) at Global Hunter after it reported Q1 EPS of $0.13, below the firm's $0.16 estimate due to higher operating costs at the El Aguila mine plus lower ore grades for gold and silver. Given the ongoing challenges at the mine in a weaker metals environment, the firm thinks GORO will continue to underperform.