StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO – Free Report) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the stock.
Separately, HC Wainwright upped their target price on shares of Gold Resource from $1.50 to $1.75 and gave the company a “buy” rating in a research report on Thursday, August 8th.
Read Our Latest Stock Analysis on GORO
Gold Resource Price Performance
Gold Resource (NYSE:GORO – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter. The company had revenue of $20.78 million during the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. Equities analysts expect that Gold Resource will post -0.38 EPS for the current year.
Institutional Trading of Gold Resource
Several hedge funds have recently added to or reduced their stakes in GORO. Renaissance Technologies LLC increased 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 during the last quarter. Virtu Financial LLC purchased a new position in Gold Resource in the first quarter valued at approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. increased 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 during the last quarter. Institutional investors and hedge funds own 18.38% of the company’s stock.
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.
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