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

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

Gold Resource Stock Up 30.6 %

GORO stock opened at $0.22 on Thursday. The business’s 50-day moving average price is $0.21 and its 200-day moving average price is $0.33. The stock has a market cap of $21.04 million, a P/E ratio of -0.45 and a beta of 1.60. Gold Resource has a twelve month low of $0.12 and a twelve month 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 for the quarter, missing the consensus estimate 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%. On average, equities research analysts expect that Gold Resource will post -0.38 earnings per share for the current fiscal 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 Gold Resource Co. (NYSE:GORO) by 6.8% during the 2nd quarter, according to its most recent disclosure 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 quarter. Renaissance Technologies LLC owned about 1.65% of Gold Resource worth $559,000 at the end of the most recent reporting period. 18.38% of the stock is owned by institutional investors and hedge funds.

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.