Gold Resource selloff creates buying opportunity, says Alliance Global Partners

Alliance Global Partners notes that Gold Resource reported 2022 results "roughly in-line" with the firm’s estimates and said it views 2023 as "more of a transition year at the Don David Gold Mine." However, the firm believes exploration work has the potential to identify higher-grade zones that could be brought into the mine plan over the near-term and it contends that the market reaction to softer 2023 guidance was "overdone," creating a buying opportunity. The firm reiterates a Buy rating and $3 price target on Gold Resource shares.