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

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

Gold Resource Trading Up 13.4 %

NYSE:GORO opened at $0.40 on Monday. The company has a 50-day moving average of $0.22 and a 200-day moving average of $0.31. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71. The firm has a market cap of $38.51 million, a price-to-earnings ratio of -0.82 and a beta of 1.48.

Gold Resource (NYSE:GORO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $13.27 million during the quarter. Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. On average, research analysts forecast that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Trading of Gold Resource

An institutional investor recently raised its position in Gold Resource stock. Renaissance Technologies LLC lifted its position in Gold Resource Co. (NYSE:GORO) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,496,390 shares of the company’s stock after acquiring an additional 95,300 shares during the quarter. Renaissance Technologies LLC owned approximately 1.65% of Gold Resource worth $559,000 as of its most recent filing with the SEC. 18.38% of the stock is 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.