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

Equities researchers at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Tuesday. The firm set a “sell” rating on the stock.

Separately, HC Wainwright reduced their target price on shares of Gold Resource from $1.75 to $1.50 and set a “buy” rating for the company in a report on Friday, March 15th.

Gold Resource Price Performance

NYSE:GORO opened at $0.42 on Tuesday. Gold Resource has a 52 week low of $0.22 and a 52 week high of $0.84. The company’s 50 day moving average price is $0.49. The stock has a market capitalization of $38.14 million, a PE ratio of -2.00 and a beta of 1.53.

Gold Resource (NYSE:GORO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $18.70 million during the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. On average, equities analysts anticipate that Gold Resource will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gold Resource

Several hedge funds and other institutional investors have recently modified their holdings of the business. Financial & Tax Architects LLC purchased a new position in Gold Resource during the fourth quarter worth about $28,000. Virtu Financial LLC purchased a new position in Gold Resource during the first quarter worth about $37,000. Perritt Capital Management Inc. raised its stake in Gold Resource by 200.0% during the third quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock worth $128,000 after purchasing an additional 200,000 shares during the period. PEAK6 Investments LLC raised its stake in Gold Resource by 22.8% during the third quarter. PEAK6 Investments LLC now owns 307,003 shares of the company’s stock worth $131,000 after purchasing an additional 57,002 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake 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 purchasing an additional 312,765 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.