Gold Resource price target lowered to $2 from $3 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Gold Resource to $2 from $3 and keeps a Buy rating on the shares after the company announced preliminary Q3 production results from the Don David Gold Mine that were “modestly below our expectations.” The firm is lowering its estimates due to softer base metals prices, recent continued strength in the Mexican Peso, and persistent broader inflationary pressures, the analyst tells investors.