StockNews.com Initiates Coverage on Gold Resource (NYSE:GORO)

Investment analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Thursday. The brokerage set a “hold” rating on the stock.

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

Gold Resource Stock Down 12.7 %

Shares of GORO opened at $0.17 on Thursday. The firm has a fifty day simple moving average of $0.37 and a two-hundred day simple moving average of $0.42. Gold Resource has a twelve month low of $0.17 and a twelve month high of $0.71. The stock has a market capitalization of $15.79 million, a P/E ratio of -0.83 and a beta of 1.44.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GORO. Virtu Financial LLC bought a new position in shares of Gold Resource in the 1st quarter worth about $37,000. Renaissance Technologies LLC increased its stake in shares of Gold Resource by 6.8% in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Gold Resource by 14.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock worth $1,050,000 after acquiring an additional 312,765 shares in the last quarter. 18.38% of the stock is currently 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.