Gold Resource (NYSE:GORO) Coverage Initiated at StockNews.com

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

Separately, HC Wainwright lifted their price target on 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 Up 12.9 %

Shares of GORO stock opened at $0.14 on Friday. The stock has a fifty day moving average of $0.34 and a 200 day moving average of $0.41. Gold Resource has a 52 week low of $0.12 and a 52 week high of $0.71. The firm has a market capitalization of $13.09 million, a price-to-earnings ratio of -0.30 and a beta of 1.51.

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

Institutional Investors Weigh In On Gold Resource

Several large investors have recently bought and sold shares of GORO. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $1,050,000 after purchasing an additional 312,765 shares during the period. Renaissance Technologies LLC grew its stake in shares of Gold Resource by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock valued at $559,000 after acquiring an additional 95,300 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Gold Resource during the 1st quarter valued at approximately $37,000. 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.