Gold Resource (NYSE:GORO) Given New $1.25 Price Target at HC Wainwright

Gold Resource (NYSE:GORO) had its price objective reduced by equities researchers at HC Wainwright from $1.75 to $1.25 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 108.33% from the stock’s current price.

Separately, StockNews.com started coverage on shares of Gold Resource in a research note on Saturday, March 1st. They set a “hold” rating for the company.

Gold Resource Stock Performance

GORO opened at $0.60 on Friday. Gold Resource has a fifty-two week low of $0.12 and a fifty-two week high of $0.71. The company has a fifty day moving average of $0.35 and a two-hundred day moving average of $0.30. The stock has a market capitalization of $57.20 million, a price-to-earnings ratio of -1.22 and a beta of 1.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new position in Gold Resource during the third quarter worth approximately $110,000. Squarepoint Ops LLC purchased a new position in shares of Gold Resource during the 4th quarter worth $119,000. Jane Street Group LLC grew its holdings in shares of Gold Resource by 669.8% in the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock valued at $41,000 after purchasing an additional 155,664 shares during the period. Finally, Shay Capital LLC grew its holdings in shares of Gold Resource by 114.1% in the fourth quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock valued at $58,000 after purchasing an additional 134,077 shares during the period. 18.38% of the stock is currently owned by institutional investors and hedge funds.

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.