Start here if you're new
what it is
Gold Resource digs gold and silver from one main mine in Mexico while trying to develop a second project in Michigan.
how it gets paid
Last year Gold Resource made $66M in revenue. gold sales was the main engine at $26M, or 39% of sales.
why it's growing
Revenue grew 24.6% last year. Gross margin at 0.7% mattered most because it means the company kept about 70 cents for every $100 of sales before overhead.
what just happened
Revenue jumped to $48M, but a 0.7% gross margin kept the business in the red.
At a glance
C balance sheet — red flag territory — real financial stress
40/100 earnings predictability — expect surprises
6.6% return on capital — nothing to write home about
-$0.61 fy2024 eps est
$66M fy2024 rev est
xvary composite: 26/100 — weak
What they do
Gold Resource digs gold and silver from one main mine in Mexico while trying to develop a second project in Michigan.
The moat is thin, but it exists. Gold Resource controls 100% of six Oaxaca properties around the Don David mine, so you are not paying to build a mining district from scratch. Existing infrastructure around one operating hub matters because 465 employees, nearby land, and a running mine give it a cheaper path to the next ton than a brand-new explorer.
How they make money
$66M
annual revenue · their business grew +24.6% last year
gold sales
$26M
silver sales
$20M
copper sales
$8M
lead sales
$7M
zinc sales
$5M
The products that matter
gold and silver mining
Don David Gold Mine
23,125 gold-equivalent ounces in 2025
this one asset sold 23,125 gold-equivalent ounces in 2025 and generated the company's $61M in trailing revenue. that's the whole operating story right now.
operating asset
development-stage gold project
Back Forty Project
pre-production
it matters because the company has one producing mine today, so 100% of operating revenue still comes from Don David. Back Forty is the second chapter if it gets funded.
pipeline
Key numbers
71.9%
operating margin
Operating margin → profit after running the business → so what: on $66M of revenue, the core operation still burned cash.
$0.61
2024 EPS
EPS → profit per share → so what: losses worsened from -$0.18 in 2023 to -$0.61 in 2024, which tells you the turnaround moved backward.
5/100
price stability
Price stability → how calm the stock trades → so what: a score of 5 out of 100 says this name behaves more like a metal price bet than a steady business.
$86M
long-term debt
Long-term debt → borrowings due later → so what: debt is larger than one full year of revenue, which leaves little room for operational mistakes.
Financial health
C
strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $86M (29% of capital)
C — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GORO right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue jumped to $48M, but a 0.7% gross margin kept the business in the red.
Sales nearly doubled vs. prior year, yet EPS was -$0.19. Gross margin → money left after direct costs → so what: almost none of that revenue turned into profit.
$48M
revenue
$0.19
eps
0.7%
gross margin
the number that mattered
Gross margin at 0.7% mattered most because it means the company kept about 70 cents for every $100 of sales before overhead.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is Don David failing to produce profitable ounces. one mine already carries the whole business. if it disappoints again, there is nowhere else for the numbers to hide.
med
persistent unprofitability
A -58% profit margin and a -$0.61 full-year EPS estimate say the core operation still is not paying for itself.
Impact: if losses stay this wide, equity dilution or more borrowing becomes part of the capital structure debate.
med
single-asset dependency
Don David generated all $61M of trailing revenue. That means operational issues, grade problems, or local disruptions hit 100% of operating cash flow.
Impact: one weak quarter at the mine can rewrite the whole year for a company this small.
med
balance sheet and financing strain
The balance sheet is graded C, long-term debt is $86M, and price stability is 5/100. None of that gives you much cushion if operations stay messy.
Impact: weak execution with this balance sheet usually leaves shareholders paying for it one way or another.
med
development still needs capital
Back Forty matters because GORO needs more than one producing asset. The problem is that development-stage projects consume capital before they produce cash.
Impact: the second chapter can improve the story, but it can also extend the funding problem first.
One mine produced all $61M of trailing revenue, the balance sheet carries $86M of long-term debt, and the business still ran at a -58% profit margin. That is a thin margin of safety.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
profit margin back above zero
Revenue already grew 24.6%. The next number that matters is whether losses shrink from -58% of sales toward breakeven.
calendar
Q1 2026 earnings report
Scheduled for May 11, 2026. Watch unit economics, cash burn, and whether the EPS gap narrows from -$0.30 versus -$0.014 expected.
risk
Don David concentration
With 100% of operating revenue tied to one Mexican mine, any production slip shows up immediately in the income statement.
trend
Back Forty and Goldgroup path
The Michigan project and any merger-related updates matter because the company needs a second chapter, not just a slightly better quarter.
Analyst rankings
earnings predictability
40 / 100
in human-speak, the company misses often enough that you should expect noisy quarters.
risk rank
5
safer than 5% of stocks. translated: the market sees this as a high-risk situation.
price stability
5 / 100
this stock does not give you smooth compounding. it gives you swings.
source: institutional data
Institutional activity
institutional ownership data for GORO is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive