Gold Resource (NYSE:GORO) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Gold Resource (NYSE:GORO) from a sell rating to a hold rating in a report issued on Friday morning.

Separately, HC Wainwright lowered their price target on Gold Resource from $1.75 to $1.50 and set a buy rating on the stock in a report on Friday, March 15th.

Gold Resource Stock Up 7.4 %

NYSE:GORO traded up $0.03 during midday trading on Friday, hitting $0.50. The stock had a trading volume of 370,897 shares, compared to its average volume of 708,783. Gold Resource has a one year low of $0.22 and a one year high of $0.86. The stock has a market capitalization of $45.82 million, a P/E ratio of -2.40 and a beta of 1.58. The company’s 50-day simple moving average is $0.49.

Gold Resource (NYSE:GORO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $18.70 million during the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. As a group, research analysts predict that Gold Resource will post -0.06 EPS for the current year.

Hedge Funds Weigh In On Gold Resource

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Gold Resource by 14.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock worth $1,050,000 after acquiring an additional 312,765 shares during the period. PEAK6 Investments LLC raised its stake in Gold Resource by 22.8% during the third quarter. PEAK6 Investments LLC now owns 307,003 shares of the company’s stock worth $131,000 after acquiring an additional 57,002 shares during the period. Perritt Capital Management Inc. raised its stake in Gold Resource by 200.0% during the third quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock worth $128,000 after acquiring an additional 200,000 shares during the period. Virtu Financial LLC acquired a new stake in Gold Resource during the first quarter worth about $37,000. Finally, Financial & Tax Architects LLC acquired a new stake in Gold Resource during the fourth quarter worth about $28,000. 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.