Gold Resource (NYSE:GORO) Now Covered by Analysts at StockNews.com

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

Separately, HC Wainwright upped their price objective on Gold Resource from $1.50 to $1.75 and gave the company a “buy” rating in a research note on Thursday, August 8th.

Gold Resource Trading Down 7.7 %

NYSE GORO opened at $0.13 on Friday. The business has a fifty day simple moving average of $0.29 and a 200 day simple moving average of $0.39. Gold Resource has a 12 month low of $0.12 and a 12 month high of $0.71. The firm has a market capitalization of $12.54 million, a P/E ratio of -0.27 and a beta of 1.50.

Gold Resource (NYSE:GORO) last announced its earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The business had revenue of $13.27 million during the quarter. Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. As a group, sell-side analysts predict that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Gold Resource

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Gold Resource in the first quarter valued at approximately $37,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Gold Resource in the third quarter worth $110,000. Finally, Renaissance Technologies LLC boosted its position in shares of Gold Resource by 6.8% during the 2nd 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. 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.