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

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

Separately, HC Wainwright upped their price target on Gold Resource from $1.50 to $1.75 and gave the company a “buy” rating in a report on Thursday, August 8th.

Gold Resource Stock Performance

NYSE:GORO opened at $0.13 on Friday. Gold Resource has a fifty-two week low of $0.12 and a fifty-two week high of $0.71. The company has a 50 day moving average price of $0.29 and a 200 day moving average price of $0.39. The stock has a market capitalization of $12.54 million, a P/E ratio of -0.27 and a beta of 1.50.

Gold Resource (NYSE:GORO) last announced 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). The firm had revenue of $13.27 million for 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 fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in Gold Resource in the 1st quarter valued at about $37,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Gold Resource during the third quarter worth about $110,000. Finally, Renaissance Technologies LLC raised its position in shares of Gold Resource by 6.8% in the second 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 last quarter. 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.