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

StockNews.com started coverage on shares of Gold Resource (NYSE:GORO) in a research report issued on Wednesday. The firm set a “sell” rating on the stock.

Separately, HC Wainwright upped their target price 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 Trading Down 2.8 %

NYSE:GORO opened at $0.41 on Wednesday. The stock has a market cap of $37.23 million, a P/E ratio of -1.95 and a beta of 1.44. The stock’s 50-day moving average is $0.37 and its 200-day moving average is $0.43. Gold Resource has a 1-year low of $0.22 and a 1-year high of $0.71.

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

Institutional Trading of Gold Resource

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Gold Resource in the first quarter valued at approximately $37,000. Renaissance Technologies LLC boosted 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 acquiring an additional 95,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Gold Resource by 14.7% in 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. 18.38% of the stock is currently 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.