Gold Resource (NYSE:GORO) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a research note released on Sunday morning. The firm issued a sell rating on the stock.

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

Gold Resource Stock Performance

Shares of NYSE:GORO opened at $0.36 on Friday. Gold Resource has a 52-week low of $0.22 and a 52-week high of $0.71. The business’s 50 day simple moving average is $0.39 and its two-hundred day simple moving average is $0.43. The firm has a market cap of $32.69 million, a P/E ratio of -1.71 and a beta of 1.45.

Gold Resource (NYSE:GORO) last posted its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $20.78 million during the quarter. Gold Resource had a negative net margin of 51.93% and a negative return on equity of 27.52%. On average, equities analysts forecast that Gold Resource will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Gold Resource

A number of hedge funds have recently made changes to their positions in GORO. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $1,050,000 after acquiring an additional 312,765 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Gold Resource by 6.8% during 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 during the period. Finally, Virtu Financial LLC bought a new position in Gold Resource in the first quarter worth $37,000. 18.38% of the stock is owned by institutional investors.

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.