Research analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO – Get Free Report) in a research note issued on Wednesday. The firm set a “sell” rating on the stock.
Separately, HC Wainwright upped their price target on Gold Resource from $1.50 to $1.75 and gave the company a “buy” rating in a research report on Thursday, August 8th.
Check Out Our Latest Stock Analysis on Gold Resource
Gold Resource Trading Up 16.3 %
Gold Resource (NYSE:GORO – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. The firm had revenue of $20.78 million during the quarter. On average, research analysts predict that Gold Resource will post -0.38 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in 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 buying an additional 95,300 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Gold Resource in the first quarter worth about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 purchasing an additional 312,765 shares during the period. Institutional investors and hedge funds 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.
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