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

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

Gold Resource Price Performance

GORO opened at $0.36 on Monday. The company’s 50-day moving average is $0.21 and its 200 day moving average is $0.31. The firm has a market capitalization of $33.95 million, a PE ratio of -0.73 and a beta of 1.48. Gold Resource has a fifty-two week low of $0.12 and a fifty-two week high of $0.71.

Gold Resource (NYSE:GORO) last released 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). Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. The firm had revenue of $13.27 million for the quarter. As a group, analysts expect that Gold Resource will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company bought a new stake in Gold Resource Co. (NYSE:GORO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned approximately 0.33% of Gold Resource at the end of the most recent reporting period. 18.38% of the stock is owned by institutional investors and hedge funds.

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.