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

Investment analysts at StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a report released on Sunday. The brokerage set a “hold” rating on the stock.

Gold Resource Stock Up 1.9 %

Shares of Gold Resource stock opened at $0.30 on Friday. The firm has a market cap of $28.32 million, a price-to-earnings ratio of -0.61 and a beta of 1.48. Gold Resource has a 52-week low of $0.12 and a 52-week high of $0.71. The company’s 50-day simple moving average is $0.19 and its 200-day simple moving average is $0.31.

Gold Resource (NYSE:GORO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The business 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%. Equities research analysts anticipate that Gold Resource will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Gold Resource

A hedge fund recently bought a new stake in Gold Resource stock. The Manufacturers Life Insurance Company bought a new position in shares of Gold Resource Co. (NYSE:GORO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 and hedge funds.

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.