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

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the stock.

Gold Resource Price Performance

Shares of GORO stock opened at $0.22 on Thursday. The company has a market cap of $21.04 million, a PE ratio of -0.45 and a beta of 1.60. The stock’s 50 day simple moving average is $0.21 and its two-hundred day simple moving average is $0.33. Gold Resource has a 1 year low of $0.12 and a 1 year high of $0.71.

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 analysts’ consensus estimates of ($0.05) by ($0.06). Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. The company had revenue of $13.27 million during the quarter. Equities research analysts expect that Gold Resource will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Gold Resource Co. (NYSE:GORO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned 0.33% of Gold Resource at the end of the most recent quarter. 18.38% of the stock is currently owned by institutional investors.

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.