Gold Resource (NYSE:GORO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Wednesday morning. The firm issued a hold rating on the stock.

Gold Resource Stock Performance

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 announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The company 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%. As a group, analysts predict that Gold Resource will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gold Resource

A hedge fund recently bought a new stake in Gold Resource stock. The Manufacturers Life Insurance Company purchased a new stake in Gold Resource Co. (NYSE:GORO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned approximately 0.33% of Gold Resource at the end of the most recent reporting period. 18.38% of the stock is 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.