Gold Resource (NYSE:GORO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report published on Sunday morning. The brokerage issued a hold rating on the stock.

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

Gold Resource Stock Performance

NYSE GORO opened at $0.15 on Friday. Gold Resource has a 52-week low of $0.12 and a 52-week high of $0.71. The company has a fifty day moving average of $0.29 and a 200-day moving average of $0.38. The company has a market capitalization of $13.95 million, a P/E ratio of -0.30 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 firm had revenue of $13.27 million for the quarter. Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. As a group, analysts forecast that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Trading of Gold Resource

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of Gold Resource during the first quarter valued at about $37,000. Renaissance Technologies LLC increased its holdings in Gold Resource by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock valued at $559,000 after purchasing an additional 95,300 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Gold Resource during the 3rd quarter valued at approximately $110,000. Institutional investors own 18.38% of the company’s stock.

Gold Resource Company Profile

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.