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

Investment analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Monday. The firm set a “hold” rating on the stock.

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

Gold Resource Price Performance

GORO opened at $0.16 on Monday. Gold Resource has a 1 year low of $0.12 and a 1 year high of $0.71. The stock’s 50 day simple moving average is $0.28 and its 200 day simple moving average is $0.37. The firm has a market cap of $15.01 million, a price-to-earnings ratio of -0.32 and a beta of 1.50.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Gold Resource in the first quarter worth about $37,000. The Manufacturers Life Insurance Company purchased a new position in shares of Gold Resource during the 3rd quarter worth approximately $110,000. Finally, Renaissance Technologies LLC raised its position in shares of Gold Resource by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after acquiring an additional 95,300 shares in the last quarter. 18.38% of the stock is currently owned by institutional investors.

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.