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

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

Gold Resource Trading Up 4.8 %

Gold Resource stock opened at $0.39 on Friday. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71. The stock’s fifty day simple moving average is $0.31 and its 200-day simple moving average is $0.29. The firm has a market capitalization of $37.21 million, a P/E ratio of -0.80 and a beta of 1.53.

Institutional Trading of Gold Resource

A number of large investors have recently modified their holdings of GORO. The Manufacturers Life Insurance Company purchased a new stake in shares of Gold Resource during the third quarter worth $110,000. Jane Street Group LLC grew its stake in shares of Gold Resource by 669.8% during the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock worth $41,000 after purchasing an additional 155,664 shares in the last quarter. Shay Capital LLC grew its stake in shares of Gold Resource by 114.1% during the fourth quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock worth $58,000 after purchasing an additional 134,077 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Gold Resource during the fourth quarter worth $119,000. Hedge funds and other institutional investors 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.