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

StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Thursday. The brokerage issued a hold rating on the stock.

Separately, HC Wainwright upped their target price 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 Price Performance

NYSE GORO opened at $0.18 on Thursday. The company has a market capitalization of $16.60 million, a price-to-earnings ratio of -0.95 and a beta of 1.44. The company’s fifty day moving average price is $0.37 and its two-hundred day moving average price is $0.43. Gold Resource has a 12 month low of $0.17 and a 12 month high of $0.71.

Gold Resource (NYSE:GORO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter. Gold Resource had a negative net margin of 51.93% and a negative return on equity of 27.52%. The firm had revenue of $20.78 million during the quarter. As a group, analysts anticipate that Gold Resource will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Gold Resource

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Gold Resource by 6.8% during the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after buying an additional 95,300 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Gold Resource in the first quarter valued at $37,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Gold Resource by 14.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after acquiring an additional 312,765 shares during the last quarter. 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.