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

Analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note issued on Thursday. The firm set a “hold” rating on the stock.

Gold Resource Stock Up 12.4 %

NYSE:GORO opened at $0.25 on Thursday. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71. The stock has a market cap of $23.64 million, a P/E ratio of -0.51 and a beta of 1.60. The business’s 50-day moving average price is $0.21 and its two-hundred day moving average price is $0.33.

Gold Resource (NYSE:GORO) last announced its earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company had revenue of $13.27 million for the quarter. Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. On average, equities research analysts expect that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Trading of Gold Resource

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company acquired a new stake in Gold Resource Co. (NYSE:GORO) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned approximately 0.33% of Gold Resource as of its most recent filing with the SEC. 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.