Gold Resource (NYSE:GORO) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a report published on Saturday. The brokerage issued 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 research report on Thursday, August 8th.

Gold Resource Price Performance

Shares of NYSE:GORO remained flat at $0.16 on Friday. 1,207,885 shares of the stock traded hands, compared to its average volume of 3,478,000. Gold Resource has a 12-month low of $0.12 and a 12-month high of $0.71. The company has a market cap of $14.96 million, a price-to-earnings ratio of -0.33 and a beta of 1.50. The stock’s 50-day moving average is $0.32 and its 200-day moving average is $0.40.

Gold Resource (NYSE:GORO) last announced its earnings results 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). The firm had revenue of $13.27 million during the quarter. Gold Resource had a negative return on equity of 32.34% and a negative net margin of 61.31%. As a group, research analysts forecast that Gold Resource will post -0.38 EPS for the current fiscal year.

Institutional Trading of Gold Resource

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of Gold Resource by 6.8% during the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock valued at $559,000 after purchasing an additional 95,300 shares in the last quarter. Virtu Financial LLC purchased a new position in Gold Resource in the first quarter worth about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gold Resource by 14.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after purchasing an additional 312,765 shares during the last quarter. 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.