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

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

Separately, HC Wainwright raised their target price on shares of Gold Resource from $1.50 to $1.75 and gave the stock a “buy” rating in a report on Thursday, August 8th.

Gold Resource Price Performance

GORO stock opened at $0.35 on Tuesday. The firm has a market cap of $31.86 million, a PE ratio of -1.67 and a beta of 1.44. Gold Resource has a 12 month low of $0.22 and a 12 month high of $0.71. The firm has a 50 day simple moving average of $0.37 and a 200 day simple moving average of $0.43.

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

Institutional Trading of Gold Resource

Several hedge funds and other institutional investors have recently modified their holdings of GORO. Virtu Financial LLC purchased a new stake in Gold Resource in the 1st quarter worth about $37,000. Renaissance Technologies LLC boosted its holdings in shares of Gold Resource by 6.8% during the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after purchasing an additional 95,300 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position 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 valued at $1,050,000 after purchasing an additional 312,765 shares in the last quarter. Institutional investors and hedge funds own 18.38% of the company’s stock.

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.