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

Analysts at StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the stock.

Gold Resource Stock Down 5.3 %

NYSE GORO opened at $0.34 on Wednesday. The stock has a market cap of $32.24 million, a P/E ratio of -0.69 and a beta of 1.53. The company’s 50-day simple moving average is $0.27 and its 200 day simple moving average is $0.30. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71.

Gold Resource (NYSE:GORO) last posted its 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). The business had revenue of $13.27 million during the quarter. Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. Research analysts anticipate that Gold Resource will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Gold Resource

A hedge fund recently bought a new stake in Gold Resource stock. The Manufacturers Life Insurance Company acquired a new stake in Gold Resource Co. (NYSE:GORO) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned 0.33% of Gold Resource at the end of the most recent reporting period. 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.