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

Stock analysts at StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a research note issued on Monday. The brokerage set a “hold” rating on the stock.

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

Gold Resource Price Performance

GORO opened at $0.15 on Monday. The stock has a market capitalization of $14.35 million, a price-to-earnings ratio of -0.31 and a beta of 1.50. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71. The company has a 50-day simple moving average of $0.27 and a 200 day simple moving average of $0.37.

Gold Resource (NYSE:GORO) last issued its quarterly 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 firm had revenue of $13.27 million for the quarter. Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. Sell-side analysts anticipate that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GORO. Virtu Financial LLC bought a new stake in shares of Gold Resource during the first quarter worth about $37,000. Renaissance Technologies LLC boosted its position in Gold Resource by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after buying an additional 95,300 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Gold Resource during the 3rd quarter worth approximately $110,000. 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.