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

Analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note issued on Wednesday. The firm set a “hold” rating on the stock.

Gold Resource Price Performance

Shares of GORO stock opened at $0.18 on Wednesday. The stock’s 50-day moving average price is $0.23 and its 200 day moving average price is $0.35. The stock has a market capitalization of $16.77 million, a PE ratio of -0.36 and a beta of 1.60. Gold Resource has a 52-week low of $0.12 and a 52-week high of $0.71.

Gold Resource (NYSE:GORO) last released its earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. The company had revenue of $13.27 million during the quarter. Analysts expect that Gold Resource will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Gold Resource

A hedge fund recently raised its stake in Gold Resource stock. Renaissance Technologies LLC boosted its position in Gold Resource Co. (NYSE:GORO) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,496,390 shares of the company’s stock after purchasing an additional 95,300 shares during the period. Renaissance Technologies LLC owned about 1.65% of Gold Resource worth $559,000 as of its most recent filing with the Securities & Exchange Commission. 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.