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

Investment analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report released on Sunday. The brokerage set a “sell” rating on the stock.

Separately, HC Wainwright raised their price objective 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 $0.33 on Friday. The firm’s fifty day simple moving average is $0.39 and its 200-day simple moving average is $0.43. Gold Resource has a 12 month low of $0.22 and a 12 month high of $0.71. The stock has a market capitalization of $29.51 million, a price-to-earnings ratio of -1.55 and a beta of 1.45.

Gold Resource (NYSE:GORO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. The company had revenue of $20.78 million for the quarter. Analysts anticipate that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Gold Resource in the 1st quarter valued at about $37,000. Renaissance Technologies LLC boosted its holdings 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 during the last quarter. 18.38% of the stock is owned by institutional investors and hedge funds.

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.