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

StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a report released on Wednesday. The firm issued a hold rating on the stock.

Gold Resource Stock Performance

Shares of NYSE:GORO opened at $0.18 on Wednesday. The business’s 50-day simple moving average is $0.22 and its 200 day simple moving average is $0.34. The company has a market cap of $17.15 million, a P/E ratio of -0.37 and a beta of 1.60. Gold Resource has a one year low of $0.12 and a one year high of $0.71.

Gold Resource (NYSE:GORO) last issued its quarterly earnings data 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). Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. The firm had revenue of $13.27 million during the quarter. Analysts predict that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Trading of Gold Resource

A hedge fund recently bought a new stake in Gold Resource stock. The Manufacturers Life Insurance Company acquired a new position in shares of Gold Resource Co. (NYSE:GORO) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 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 as of its most recent SEC filing. 18.38% of the stock is currently owned by hedge funds and other 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.