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

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

Gold Resource Stock Performance

GORO stock opened at $0.22 on Friday. The firm has a market cap of $20.97 million, a P/E ratio of -0.45 and a beta of 1.60. The firm’s fifty day moving average is $0.19 and its 200 day moving average is $0.32. Gold Resource has a 52 week low of $0.12 and a 52 week high of $0.71.

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

Institutional Investors Weigh In On Gold Resource

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Gold Resource Co. (NYSE:GORO) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned about 0.33% of Gold Resource at the end of the most recent reporting period. 18.38% of the stock is owned by institutional investors and hedge funds.

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.