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

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note published on Wednesday morning. The firm issued a hold rating on the stock.

Gold Resource Trading Down 4.4 %

Shares of Gold Resource stock opened at $0.32 on Wednesday. The company has a 50 day moving average of $0.27 and a 200-day moving average of $0.30. The company has a market cap of $30.83 million, a PE ratio of -0.66 and a beta of 1.53. Gold Resource has a 1-year low of $0.12 and a 1-year high of $0.71.

Gold Resource (NYSE:GORO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Gold Resource

A hedge fund recently raised its stake in Gold Resource stock. Renaissance Technologies LLC lifted its position in shares of Gold Resource Co. (NYSE:GORO) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 and Exchange Commission. 18.38% of the stock is 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.