Gold Resource (NYSE:GORO) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Wednesday morning. The brokerage issued a sell rating on the stock.

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

Gold Resource Price Performance

NYSE:GORO opened at $0.42 on Wednesday. The business has a fifty day simple moving average of $0.36 and a two-hundred day simple moving average of $0.43. Gold Resource has a 1 year low of $0.22 and a 1 year high of $0.71. The company has a market capitalization of $38.31 million, a P/E ratio of -2.01 and a beta of 1.44.

Gold Resource (NYSE:GORO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter. The company 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, analysts anticipate that Gold Resource will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Gold Resource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Gold Resource during the first quarter worth about $37,000. Renaissance Technologies LLC grew its position in Gold Resource by 6.8% during the second 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position 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 in the last quarter. 18.38% of the stock is currently owned by hedge funds and other institutional investors.

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.