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

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

Separately, HC Wainwright increased their price objective 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 Stock Performance

NYSE GORO opened at $0.37 on Monday. The business has a 50 day simple moving average of $0.38 and a 200 day simple moving average of $0.44. Gold Resource has a 52-week low of $0.22 and a 52-week high of $0.71. The stock has a market cap of $33.21 million, a price-to-earnings ratio of -1.74 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 (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. On average, analysts predict that Gold Resource will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Gold Resource in the first quarter valued at about $37,000. Renaissance Technologies LLC boosted its stake in shares of Gold Resource by 6.8% during the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock valued at $559,000 after purchasing an additional 95,300 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 purchasing an additional 312,765 shares in the last quarter. Institutional investors own 18.38% of the company’s stock.

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.