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

Research analysts at StockNews.com started coverage on shares of Gold Resource (NYSE:GORO) in a research report issued on Thursday. The firm set a “sell” rating on the stock.

Separately, HC Wainwright lowered their price target on shares of Gold Resource from $1.75 to $1.50 and set a “buy” rating for the company in a research note on Friday, March 15th.

Gold Resource Stock Performance

Shares of NYSE:GORO opened at $0.40 on Thursday. The firm has a fifty day moving average price of $0.46. Gold Resource has a one year low of $0.22 and a one year high of $0.71. The company has a market cap of $36.32 million, a P/E ratio of -1.90 and a beta of 1.46.

Gold Resource (NYSE:GORO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. The company had revenue of $18.70 million for the quarter. As a group, sell-side analysts forecast that Gold Resource will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gold Resource

Several hedge funds have recently bought and sold shares of GORO. Financial & Tax Architects LLC bought a new stake in Gold Resource during the fourth quarter worth about $28,000. Virtu Financial LLC bought a new position in shares of Gold Resource in the first quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake 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 worth $1,050,000 after buying an additional 312,765 shares in the last quarter. Institutional investors own 18.38% of the company’s stock.

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.