Gold Resource (NYSE:GORO) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a report published on Sunday. The brokerage issued a sell rating on the stock.

Separately, HC Wainwright raised their price target on shares of 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 Stock Down 1.9 %

Shares of GORO stock opened at $0.35 on Friday. Gold Resource has a 52-week low of $0.22 and a 52-week high of $0.71. The stock has a market cap of $33.03 million, a PE ratio of -1.68 and a beta of 1.45. The business has a 50-day simple moving average of $0.39 and a 200-day simple moving average of $0.43.

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

Hedge Funds Weigh In On Gold Resource

A number of hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Gold Resource during the first quarter valued at $37,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 last quarter. Finally, Renaissance Technologies LLC lifted its stake in Gold Resource by 6.8% in the 2nd 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. Hedge funds and other institutional investors own 18.38% of the company’s stock.

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.