Gold Resource (NYSE:GORO) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note released on Tuesday. The brokerage issued a sell rating on the stock.

Separately, HC Wainwright cut their price objective on shares of Gold Resource from $1.75 to $1.50 and set a buy rating for the company in a report on Friday, March 15th.

Gold Resource Stock Down 1.6 %

Shares of GORO opened at $0.43 on Tuesday. The business has a 50-day moving average of $0.48. The stock has a market capitalization of $38.60 million, a P/E ratio of -2.02 and a beta of 1.53. Gold Resource has a 52 week low of $0.22 and a 52 week high of $0.79.

Gold Resource (NYSE:GORO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $18.70 million for the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. Equities research analysts expect that Gold Resource will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Gold Resource

Several hedge funds have recently added to or reduced their stakes in the stock. Financial & Tax Architects LLC purchased a new position in shares of Gold Resource during the fourth quarter worth about $28,000. Virtu Financial LLC acquired a new position in shares of Gold Resource in the first quarter valued at approximately $37,000. Perritt Capital Management Inc. raised its stake in shares of Gold Resource by 200.0% during the third quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock worth $128,000 after purchasing an additional 200,000 shares during the last quarter. PEAK6 Investments LLC lifted its holdings in shares of Gold Resource by 22.8% during the third quarter. PEAK6 Investments LLC now owns 307,003 shares of the company’s stock worth $131,000 after purchasing an additional 57,002 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Gold Resource by 14.7% in 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 buying an additional 312,765 shares during the 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.