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

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

Separately, HC Wainwright dropped their target price on shares of Gold Resource from $1.75 to $1.25 and set a “buy” rating on the stock in a report on Friday, March 7th.

Gold Resource Stock Performance

Shares of NYSE:GORO opened at $0.58 on Tuesday. The firm’s 50 day simple moving average is $0.43 and its 200-day simple moving average is $0.32. The firm has a market cap of $55.29 million, a PE ratio of -1.18 and a beta of 1.39. Gold Resource has a one year low of $0.12 and a one year high of $0.74.

Institutional Investors Weigh In On Gold Resource

A number of hedge funds have recently made changes to their positions in GORO. The Manufacturers Life Insurance Company bought a new stake in shares of Gold Resource in the 3rd quarter valued at about $110,000. Squarepoint Ops LLC acquired a new stake in Gold Resource in the fourth quarter worth about $119,000. Jane Street Group LLC grew its stake in shares of Gold Resource by 669.8% during the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock worth $41,000 after acquiring an additional 155,664 shares during the last quarter. Finally, Shay Capital LLC increased its holdings in shares of Gold Resource by 114.1% during the fourth quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock valued at $58,000 after acquiring an additional 134,077 shares in the last quarter. 18.38% of the stock is currently owned by hedge funds and other 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.