Gold Resource (NYSE:GORO) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the stock.

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

Gold Resource Stock Performance

NYSE GORO opened at $0.13 on Friday. The business’s 50 day moving average price is $0.35 and its 200-day moving average price is $0.41. Gold Resource has a fifty-two week low of $0.12 and a fifty-two week high of $0.71. The company has a market cap of $11.91 million, a P/E ratio of -0.28 and a beta of 1.44.

Gold Resource (NYSE:GORO) last released 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 return on equity of 27.52% and a negative net margin of 51.93%. As a group, equities analysts predict that Gold Resource will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

Several institutional investors and hedge funds have recently made changes to their positions in GORO. Virtu Financial LLC purchased a new stake in Gold Resource in the first quarter valued at approximately $37,000. Renaissance Technologies LLC increased its stake in shares of Gold Resource by 6.8% in the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after acquiring an additional 95,300 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 during the period. 18.38% of the stock is currently owned by institutional investors and hedge funds.

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.