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

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GOROFree Report) in a research note released on Friday morning. The brokerage issued a hold rating on the stock.

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

Check Out Our Latest Analysis on GORO

Gold Resource Stock Down 6.4 %

NYSE:GORO opened at $0.13 on Friday. 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 $12.26 million, a P/E ratio of -0.29 and a beta of 1.51. The business’s 50-day moving average price is $0.34 and its two-hundred day moving average price is $0.41.

Gold Resource (NYSE:GOROGet Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $20.78 million for the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. On average, equities research analysts expect that Gold Resource will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Gold Resource

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Gold Resource by 14.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after acquiring an additional 312,765 shares during the last quarter. 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. Finally, Virtu Financial LLC bought a new position in shares of Gold Resource in the 1st quarter valued at about $37,000. Institutional investors own 18.38% of the company’s stock.

About Gold Resource

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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.

Further Reading

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