Sterne Agee Reiterates Buy on Gold Resource Corporation on Lowered EPS Estimates

In a report published Wednesday, Sterne Agee analyst Michael S. Dudas reiterated a Buy rating and $25.00 price target on Gold Resource Corporation

. In the report, Dudas noted, “Year-end results were impacted by pricing and below-the-line drivers. Management is looking to focus investment and effort towards preparing El Aguila mill and La Arista mine to achieve more sustainable ramp in output. As such, lower estimated realized pricing, higher exploration and development expenses and grade mix should reduce mine gross profit during 2013. While meaningful growth and dividend payout acceleration are delayed, GORO shares provide unique value among small cap mining equities.” Gold Resource Corporation closed on Tuesday at $12.82.