Gold Resource (NYSE:GORO) Coverage Initiated at StockNews.com

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

Separately, HC Wainwright increased their price objective on shares of Gold Resource from $1.50 to $1.75 and gave the company a “buy” rating in a research note on Thursday, August 8th.

Gold Resource Stock Up 15.8 %

GORO opened at $0.17 on Monday. The stock has a market cap of $16.61 million, a P/E ratio of -0.36 and a beta of 1.50. Gold Resource has a 52-week low of $0.12 and a 52-week high of $0.71. The business has a fifty day moving average of $0.26 and a 200 day moving average of $0.37.

Gold Resource (NYSE:GORO) last issued its earnings results on Tuesday, November 5th. The company reported ($0.11) EPS 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 for the quarter. Equities analysts anticipate that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Trading of Gold Resource

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Gold Resource during the first quarter valued at $37,000. Renaissance Technologies LLC lifted its holdings in shares of 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 period. Finally, The Manufacturers Life Insurance Company acquired a new position in Gold Resource in the third quarter valued at approximately $110,000. Hedge funds and other institutional investors 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.