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

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

Separately, HC Wainwright boosted their target price on shares of Gold Resource from $1.50 to $1.75 and gave the stock a buy rating in a research note on Thursday, August 8th.

Gold Resource Stock Down 2.3 %

Shares of GORO opened at $0.33 on Friday. The firm has a market cap of $30.93 million, a P/E ratio of -1.57 and a beta of 1.45. Gold Resource has a one year low of $0.22 and a one year high of $0.71. The stock has a 50 day simple moving average of $0.41.

Gold Resource (NYSE:GORO) last announced its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. The business had revenue of $20.78 million for the quarter. Sell-side analysts anticipate that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its holdings in Gold Resource by 6.8% in the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock valued at $559,000 after buying an additional 95,300 shares during the period. Virtu Financial LLC bought a new position in shares of Gold Resource in the 1st quarter worth $37,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Gold Resource by 14.7% during 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 purchasing an additional 312,765 shares during the period. 18.38% of the stock is currently 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.