StockNews.com Initiates Coverage on Gold Resource (NYSE:GORO)

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

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

Gold Resource Trading Up 3.2 %

Shares of GORO stock opened at $0.19 on Tuesday. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71. The stock has a market capitalization of $18.10 million, a price-to-earnings ratio of -0.37 and a beta of 1.60. The stock has a fifty day simple moving average of $0.25 and a two-hundred day simple moving average of $0.36.

Gold Resource (NYSE:GORO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Research analysts predict that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GORO. The Manufacturers Life Insurance Company acquired a new position in Gold Resource in the 3rd quarter valued at about $110,000. Renaissance Technologies LLC grew its holdings 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 worth $559,000 after acquiring an additional 95,300 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Gold Resource in the 1st quarter valued at approximately $37,000. 18.38% of the stock is 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.