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

StockNews.com started coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Friday morning. The firm issued a sell rating on the stock.

Separately, HC Wainwright lowered their price objective on shares of Gold Resource from $1.75 to $1.50 and set a buy rating on the stock in a research report on Friday, March 15th.

Gold Resource Stock Performance

NYSE GORO opened at $0.48 on Friday. Gold Resource has a 1 year low of $0.22 and a 1 year high of $0.71. The business has a 50 day moving average price of $0.46.

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

Hedge Funds Weigh In On Gold Resource

Several institutional investors and hedge funds have recently made changes to their positions in the business. Financial & Tax Architects LLC bought a new position in shares of Gold Resource during the 4th quarter valued at $28,000. Virtu Financial LLC bought a new position in shares of Gold Resource during the 1st quarter valued at $37,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Gold Resource by 14.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after purchasing an additional 312,765 shares during 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.