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

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

Separately, HC Wainwright raised their price target 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 Stock Performance

GORO stock opened at $0.16 on Friday. The firm has a market cap of $14.94 million, a P/E ratio of -0.33 and a beta of 1.50. The firm’s fifty day moving average is $0.32 and its 200 day moving average is $0.40. Gold Resource has a 52 week low of $0.12 and a 52 week high of $0.71.

Gold Resource (NYSE:GORO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The company had revenue of $13.27 million during the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. As a group, analysts forecast that Gold Resource will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Gold Resource

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Gold Resource by 14.7% in 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 buying an additional 312,765 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Gold Resource by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock valued at $559,000 after purchasing an additional 95,300 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Gold Resource during the first quarter valued at approximately $37,000. Institutional investors 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.