StockNews.com Begins Coverage on Gold Resource (NYSE:GORO)

StockNews.com started coverage on shares of Gold Resource (NYSE:GORO) in a report published on Monday. The firm issued a hold rating on the stock.

Separately, HC Wainwright upped their price target on Gold Resource from $1.50 to $1.75 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Gold Resource Stock Performance

NYSE GORO opened at $0.15 on Monday. The firm’s fifty day moving average is $0.27 and its two-hundred day moving average is $0.37. Gold Resource has a one year low of $0.12 and a one year high of $0.71. The firm has a market cap of $14.58 million, a PE ratio of -0.31 and a beta of 1.50.

Gold Resource (NYSE:GORO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $13.27 million during the quarter. Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. Research analysts predict that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GORO. Virtu Financial LLC purchased a new stake in shares of Gold Resource in the first quarter valued at approximately $37,000. Renaissance Technologies LLC boosted its position in shares of Gold Resource by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after purchasing an additional 95,300 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Gold Resource during the 3rd quarter worth $110,000. 18.38% of the stock is currently owned by institutional investors and hedge funds.

About Gold Resource

Gold Resource Corporation engages in the exploration, development, and production of gold and silver projects in Mexico and the United States. The company also explores for copper, lead, and zinc deposits. Its principal assets are the 100% owned Don David gold mine and Back Forty project covering approximately 1,304 hectares located in Menominee county, Michigan.