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

StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a research note released on Monday. The firm issued a hold rating on the stock.

Separately, HC Wainwright upped their target price 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 Stock Performance

Shares of GORO stock opened at $0.17 on Monday. Gold Resource has a fifty-two week low of $0.12 and a fifty-two week high of $0.71. The firm has a market capitalization of $16.61 million, a price-to-earnings ratio of -0.37 and a beta of 1.50. The stock’s 50-day simple moving average is $0.27 and its 200-day simple moving average is $0.37.

Gold Resource (NYSE:GORO) last released its earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $13.27 million for the quarter. Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. As a group, equities analysts forecast that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Trading of Gold Resource

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Gold Resource in the first quarter worth about $37,000. The Manufacturers Life Insurance Company purchased a new position in Gold Resource during the third quarter valued at approximately $110,000. Finally, Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 95,300 shares during the period. 18.38% of the stock is 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.