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

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research report released on Tuesday morning. The brokerage issued a sell rating on the stock.

Separately, HC Wainwright reduced their target price on Gold Resource from $1.75 to $1.25 and set a “buy” rating for the company in a report on Friday, March 7th.

Gold Resource Price Performance

GORO opened at $0.59 on Tuesday. Gold Resource has a fifty-two week low of $0.12 and a fifty-two week high of $0.74. The firm has a market capitalization of $56.68 million, a P/E ratio of -1.21 and a beta of 1.39. The company’s 50-day moving average is $0.43 and its 200 day moving average is $0.31.

Institutional Investors Weigh In On Gold Resource

A number of hedge funds have recently made changes to their positions in GORO. Jane Street Group LLC raised its holdings in shares of Gold Resource by 669.8% in the 4th quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock worth $41,000 after purchasing an additional 155,664 shares during the period. Shay Capital LLC increased its position in Gold Resource by 114.1% in the fourth quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock worth $58,000 after buying an additional 134,077 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Gold Resource during the 3rd quarter valued at $110,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Gold Resource during the 4th quarter valued at $119,000. 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.