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

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note published on Sunday morning. The firm issued a hold rating on the stock.

Separately, HC Wainwright increased 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 Stock Performance

Shares of GORO opened at $0.15 on Friday. Gold Resource has a 1-year low of $0.12 and a 1-year high of $0.71. The firm’s 50-day moving average price is $0.29 and its 200-day moving average price is $0.38. The firm has a market capitalization of $13.95 million, a price-to-earnings ratio of -0.30 and a beta of 1.50.

Gold Resource (NYSE:GORO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. The firm had revenue of $13.27 million for the quarter. On average, research analysts forecast that Gold Resource will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Gold Resource

A number of institutional investors and hedge funds have recently made changes to their positions in GORO. Virtu Financial LLC purchased a new position in shares of Gold Resource in the 1st quarter worth about $37,000. The Manufacturers Life Insurance Company purchased a new position in Gold Resource in the third quarter worth about $110,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Gold Resource by 6.8% in the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after buying an additional 95,300 shares in the last quarter. Institutional investors 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.