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

Equities research analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report released on Monday. The firm set 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 note on Thursday, August 8th.

Gold Resource Price Performance

Shares of Gold Resource stock opened at $0.15 on Monday. The firm has a market cap of $14.35 million, a price-to-earnings ratio of -0.31 and a beta of 1.50. Gold Resource has a one year low of $0.12 and a one year high of $0.71. The stock’s 50-day moving average is $0.27 and its 200-day moving average is $0.37.

Gold Resource (NYSE:GORO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $13.27 million during the quarter. On average, equities analysts expect that Gold Resource will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

Several hedge funds have recently added to or reduced their stakes in GORO. Virtu Financial LLC bought a new stake in shares of Gold Resource during the 1st quarter worth about $37,000. Renaissance Technologies LLC lifted its position in Gold Resource by 6.8% during the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after acquiring an additional 95,300 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Gold Resource during the third quarter worth approximately $110,000. Institutional investors and hedge funds own 18.38% of the company’s stock.

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.