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

Analysts at StockNews.com started coverage on shares of Gold Resource (NYSE:GORO) in a report released on Monday. The firm set a “sell” rating on the stock.

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

Gold Resource Stock Performance

Gold Resource stock opened at $0.35 on Monday. The firm has a market capitalization of $31.32 million, a P/E ratio of -1.64 and a beta of 1.45. The stock has a fifty day moving average price of $0.38 and a 200 day moving average price of $0.44. Gold Resource has a 52 week low of $0.22 and a 52 week high of $0.71.

Gold Resource (NYSE:GORO) last posted its earnings results 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 net margin of 51.93% and a negative return on equity of 27.52%. As a group, equities analysts predict that Gold Resource will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Gold Resource during the 1st quarter valued at about $37,000. Renaissance Technologies LLC lifted 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 worth $559,000 after buying an additional 95,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Gold Resource by 14.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock worth $1,050,000 after purchasing an additional 312,765 shares during the period. 18.38% of the stock is currently owned by hedge funds and other 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.