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Gold Resource Corporation USD

Update

Sector: Gold mining

Geography: United States

COMM_GORO

Price chart

1.29 USDDay 3.20%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
1.29 USD · 3.20%
Market cap
177 mln USD

Growth

Δ revenue y/y
255.7%
Δ EBITDA y/y
—

Multiples

P/E (LTM)
26.8x
P/B (FY)
4.0x
P/E (ann.)
9.3x
EV/EBITDA (LTM)
5.5x
EV/EBITDA (ann.)
2.8x

Cash return

Dividend yield
—
FCF yield (LTM)
-4.8%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)
+26.1%
↓ details

Liquidity

Daily turnover (listing)
1.6 mln USD

Shares: yahoo_fundamentals_timeseries/GORO

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 1 / Warn: 2 / Err: 12 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1✗Errors 1Warn 1
2023-06-30 Q2✗Errors 1Warn 1
2023-09-30 9M✗Errors 1Warn 2
2023-09-30 Q3⚠Warn 1
2023-12-31 FY✗Errors 2Warn 1
2023-12-31 Q4✓OK
2024-03-31 Q1✗Errors 1Warn 2
2024-06-30 Q2⚠Warn 2
2024-09-30 Q3✗Errors 2Warn 1
2024-12-31 FY✗Errors 2Warn 1
2025-03-31 Q1✗Errors 3Warn 1
2025-06-30 Q2✗Errors 1Warn 1
2025-09-30 Q3✗Errors 1Warn 2
2025-12-31 FY✗Errors 1Warn 2
2026-03-31 Q1✗Errors 6Warn 3
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)PARTIAL43.9
y/y 255.7%
9.5
y/y —
4.1
y/y 40.1%
13.5
y/y —
4.7
y/y —
14.8-8.8196.4
y/y 33.0%
48.8
y/y 98.6%
40.8%-25.3Link
2025-12-31Q4 2025 (3M)PARTIAL51.3
y/y 295.5%
20.0
y/y 258.8%
3.8
y/y -11.9%
23.7
y/y 386.7%
18.0
y/y 261.6%
24.2-8.9184.1
y/y 26.2%
44.0
y/y 61.4%
-18.5%-19.3Link
2025-09-30Q3 2025 (3M)PARTIAL24.9
y/y 87.4%
-3.7
y/y —
2.9
y/y -36.6%
-0.8
y/y —
-4.7
y/y —
-0.3-7.5164.3
y/y 5.7%
26.0
y/y -31.6%
-27.5%-4.1Link
2025-06-30Q2 2025 (3M)OK11.2
y/y -46.0%
-11.5
y/y —
2.6
y/y -59.5%
-8.9
y/y —
-11.5
y/y —
-1.3-2.5155.1
y/y -4.7%
19.2
y/y -61.6%
-210.1%-6.9Link
2025-03-31Q1 2025 (3M)PARTIAL12.4
y/y -33.9%
-7.8
y/y —
2.9
y/y -36.3%
-4.9
y/y —
-8.3
y/y —
-0.8-2.2147.7
y/y -19.2%
24.6
y/y -67.2%
-128.3%-2.1Link
2024-12-31Q4 2024 (3M)PARTIAL13.0
y/y -38.7%
-12.6
y/y -1.3%
4.3
y/y -33.5%
-8.3
y/y -39.1%
-11.1
y/y 0.4%
1.3-1.3145.9
y/y -20.7%
27.3
y/y -66.1%
-173.3%1.2Link
2024-09-30Q3 2024 (3M)PARTIAL13.3
y/y -35.4%
-16.3
y/y —
4.6
y/y -22.1%
-11.7
y/y —
-12.7
y/y —
-3.4-2.3155.4
y/y -18.1%
37.9
y/y -61.9%
-38.5%1.5Link
2024-06-30Q2 2024 (3M)OK20.8
y/y -16.2%
-10.8
y/y —
6.4
y/y -1.5%
-4.4
y/y —
-27.0
y/y —
-0.1-2.0162.7
y/y -14.8%
49.8
y/y -53.3%
-173.3%45.0Link
2024-03-31Q1 2024 (3M)OK18.7
y/y -40.1%
-7.6
y/y —
4.6
y/y -37.0%
-3.0
y/y -148.8%
-5.7
y/y —
1.5-2.0182.7
y/y -6.4%
74.9
y/y -32.6%
-29.2%41.0Link
2023-12-31Q4 2023 (3M)PARTIAL21.1
y/y —
-12.4
y/y —
6.4
y/y —
-6.0
y/y —
-11.2
y/y —
1.8-2.7184.0
y/y —
80.4
y/y —
-26.8%-3.4Link
2023-09-30Q3 2023 (3M)OK20.6
y/y —
-10.0
y/y —
5.9
y/y —
-4.1
y/y —
-7.3
y/y —
-7.5-3.8189.7
y/y —
99.5
y/y —
-9.5%38.0Link
2023-06-30Q2 2023 (3M)OK24.8
y/y —
-6.5
y/y —
6.5
y/y —
0.1
y/y —
-4.6
y/y —
-0.6-2.9191.1
y/y —
106.7
y/y —
-16.8%26.0Link
2023-03-31Q1 2023 (3M)PARTIAL31.2
y/y —
-1.2
y/y —
7.3
y/y —
6.1
y/y —
-1.0
y/y —
1.0-3.1195.2
y/y —
111.0
y/y —
—-18.6Link
Data quality — review suggested

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Gold

Proved reserves
0.05 mln gold ounces
2024
Annual production
1.46 mln oz
2025

Production, mln oz

0.0320100.7120133.3320142.5120151.8620161.7720171.6720181.7220191.1920202.2120211.8520221.0420230.8220241.462025

Proved reserves

YearReserves, mln gold ounces
20240.05
20220.05
20190.18
20180.19
20160.19

Production

YearProduction, mln ozper day
20251.464 005
20240.82 *2 239
20231.04
−43.9%		2 839
20221.85
−16.4%		5 058
20212.21
+85.1%		6 053
20201.19
−30.7%		3 271
20191.72
+3.0%		4 720
20181.67
−5.7%		4 581
20171.77
−4.5%		4 858

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-200204060802023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-200%0%200%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-10-50510152023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-40-20020402023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Gold

Current 4 324spot vs LTM +20%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +26.1%

Main driver: Gold +10% vs LTM; revenue ×1.20 vs costs ×1.04; EBITDA 28→22; at 9.1× EV/EBITDA → +26%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Gold (rev)+55%4 324.183 939.803 116.38+10%-21%
Silver (rev)+45%69.8252.9840.32+32%-24%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue131
LTM EBITDA28
LTM cash costs (revenue − EBITDA)104
2 · Revenue projection
Revenue multiplier — spot×1.197 (+20%)
= Spot revenue157
Revenue multiplier — 3y price×0.778 (-22%)
= 3-year-price revenue102
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs108
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs108
4 · EBITDA projection (revenue − costs)
= Spot EBITDA49
= 3-year-price EBITDA-6
Conservative EBITDA = min(spot, avg)22
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)9.1x
Target EV = EV/EBITDA × conservative EBITDA198
Net debt-25
Target market cap = EV − net debt223
Current market cap177

Upside = target market cap ÷ current − 1 = +26.1%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q22535-28.1%08-99.2%
2023 Q32130-31.1%-43-229.5%
2023 Q42128-25.5%22-7.7%
2024 Q11925-26.1%-31-320.9%
2024 Q22125-18.0%-42-296.3%
2024 Q31324-45.1%-121-1330.3%
2024 Q41322-41.3%-8-1—
2025 Q11219-35.7%-5-5—
2025 Q21118-36.7%-9-5—
2025 Q32515+61.5%-1-6—
2025 Q45122+128.0%241+2545.5%
2026 Q14442+3.8%1419-29.2%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +52% vs -33% the year before — a +84.5 pp move. 3-year CAGR -10%.
revenue growth by year: 2023 -30% · 2024 -33% · 2025 +52%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 1.4x · target 75th pct (3y) 3.3x · LTM avg 9.1x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2022-12-140.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2022-09-140.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2022-06-140.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2022-03-140.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2021-12-140.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2021-09-140.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)