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Gold Resource Swings to Loss in Q3, Maintains Production Outlook

By Eric Volkman – Nov 8, 2013 at 8:52PM

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Revenues also drop on a year-over-year basis.

Shares of Gold Resource (GORO 6.67%) have lost a little shine following the release of the company's Q3 results. For the quarter, the precious metals specialist posted sales of $29.4 million, a drop from the $36.0 million in the same period the previous year. Bottom line was in the red at $1.83 million ($0.03 per diluted share), compared to Q3 2012's profit of $6.87 million ($0.12).

In the press release unveiling the figures, CEO Jason Reid said, "Our project team continues to deliver on target results even in the midst of ongoing mill expansion construction and an increasing silver-to-gold ratio."

Gold Resource also said that for 2013, it will likely meet its annual production goal of 80,000 to 100,000 precious metal gold equivalent ounces. 

In the wake of the results announcement, the company's stock drooped by 2.2%, or $0.12, to close at $5.35 per share today. 

Fool contributor Eric Volkman has no position in Gold Resource. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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