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

StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a research report sent to investors on Saturday. The firm issued a hold rating on the stock.

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

Gold Resource Stock Performance

Gold Resource stock opened at $0.15 on Friday. The company has a market cap of $14.41 million, a P/E ratio of -0.31 and a beta of 1.50. Gold Resource has a one year low of $0.12 and a one year high of $0.71. The business has a fifty day moving average of $0.31 and a two-hundred day moving average of $0.39.

Gold Resource (NYSE:GORO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. The company had revenue of $13.27 million during the quarter. Sell-side analysts predict that Gold Resource will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Gold Resource by 14.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after acquiring an additional 312,765 shares in the last quarter. Renaissance Technologies LLC raised its stake in 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 purchasing an additional 95,300 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Gold Resource in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 18.38% of the company’s stock.

Gold Resource Company Profile

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.