Gold Resource (NYSE:GORO) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the stock.

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

Gold Resource Stock Performance

Shares of GORO stock opened at $0.38 on Thursday. The stock has a fifty day simple moving average of $0.41. The company has a market capitalization of $34.16 million, a price-to-earnings ratio of -1.79 and a beta of 1.45. Gold Resource has a 12 month low of $0.22 and a 12 month high of $0.71.

Gold Resource (NYSE:GORO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter. The business had revenue of $20.78 million during the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. As a group, equities analysts predict that Gold Resource will post -0.06 EPS for the current year.

Hedge Funds Weigh In On Gold Resource

A number of institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Gold Resource by 14.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock worth $1,050,000 after buying an additional 312,765 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Gold Resource by 6.8% in the second 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 last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Gold Resource in the first quarter valued at $37,000. 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.