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

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

Gold Resource Price Performance

Shares of NYSE:GORO opened at $0.35 on Monday. The company has a market capitalization of $31.90 million, a price-to-earnings ratio of -1.67 and a beta of 1.45. The stock’s 50-day simple moving average is $0.43. Gold Resource has a twelve month low of $0.22 and a twelve month high of $0.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased 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 purchasing an additional 312,765 shares during the last quarter. Virtu Financial LLC bought a new position in Gold Resource during the first quarter valued at approximately $37,000. Finally, Financial & Tax Architects LLC purchased a new position in shares of Gold Resource during the fourth quarter worth approximately $28,000. 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.