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

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

Separately, HC Wainwright upped their price target on 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 Trading Up 12.9 %

Shares of GORO traded up $0.02 on Friday, reaching $0.14. 2,042,785 shares of the company’s stock were exchanged, compared to its average volume of 862,527. The business has a 50 day moving average price of $0.34 and a two-hundred day moving average price of $0.41. Gold Resource has a 12 month low of $0.12 and a 12 month high of $0.71. The stock has a market capitalization of $13.09 million, a P/E ratio of -0.30 and a beta of 1.44.

Gold Resource (NYSE:GORO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. The company had revenue of $20.78 million during the quarter. Equities research analysts predict that Gold Resource will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in 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 buying an additional 95,300 shares in the last quarter. Virtu Financial LLC acquired a new position in Gold Resource in the 1st quarter worth $37,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Gold Resource by 14.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after purchasing an additional 312,765 shares during the period. 18.38% of the stock is currently owned by 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.