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

StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a research note published on Friday. The firm issued a sell rating on the stock.

Separately, HC Wainwright boosted their price objective on Gold Resource from $1.50 to $1.75 and gave the stock a buy rating in a report on Thursday, August 8th.

Gold Resource Price Performance

Shares of NYSE GORO opened at $0.34 on Friday. The company has a market cap of $30.86 million, a PE ratio of -1.62 and a beta of 1.45. The firm has a 50-day moving average of $0.41. Gold Resource has a fifty-two week low of $0.22 and a fifty-two week high of $0.71.

Gold Resource (NYSE:GORO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter. The business had revenue of $20.78 million for the quarter. Gold Resource had a negative net margin of 51.93% and a negative return on equity of 27.52%. On average, sell-side analysts anticipate that Gold Resource will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gold Resource

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Gold Resource during the first quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Gold Resource by 14.7% in the first 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 in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Gold Resource by 6.8% in 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. 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.