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

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

Gold Resource Trading Up 7.0 %

Shares of GORO opened at $0.24 on Friday. The stock’s fifty day simple moving average is $0.18 and its 200 day simple moving average is $0.32. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71. The firm has a market capitalization of $22.64 million, a P/E ratio of -0.48 and a beta of 1.60.

Gold Resource (NYSE:GORO) last released its quarterly earnings results 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). Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. The company had revenue of $13.27 million during the quarter. Sell-side analysts predict that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Gold Resource

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company purchased a new position in shares of Gold Resource Co. (NYSE:GORO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned about 0.33% of Gold Resource as of its most recent filing with the Securities & Exchange Commission. 18.38% of the stock is currently owned by hedge funds and other institutional investors.

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.