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

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

Gold Resource Stock Up 13.4 %

Shares of NYSE GORO opened at $0.40 on Monday. The firm’s 50-day moving average price is $0.22 and its two-hundred day moving average price is $0.31. Gold Resource has a 52-week low of $0.12 and a 52-week high of $0.71. The stock has a market capitalization of $38.51 million, a P/E ratio of -0.82 and a beta of 1.48.

Gold Resource (NYSE:GORO) last released 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 company had revenue of $13.27 million for the quarter. As a group, equities research analysts expect that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Gold Resource stock. Renaissance Technologies LLC boosted its stake in Gold Resource Co. (NYSE:GORO) by 6.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,496,390 shares of the company’s stock after buying an additional 95,300 shares during the period. Renaissance Technologies LLC owned 1.65% of Gold Resource worth $559,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.38% of the company’s stock.

Gold Resource Company Profile

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.