Gold Reserve (OTCMKTS:GDRZF) Shares Down 5.8% – Time to Sell?

Gold Reserve Inc. (OTCMKTS:GDRZF) shares dropped 5.8% on Wednesday . The stock traded as low as $4.56 and last traded at $4.56. 5,812 shares changed hands during trading, a decline of 97% from the average session volume of 167,661 shares. The stock had previously closed at $4.84.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald assumed coverage on shares of Gold Reserve in a research report on Tuesday, May 5th. They issued a “speculative buy” rating on the stock. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Gold Reserve Price Performance

The stock has a fifty day moving average price of $4.64 and a 200 day moving average price of $4.49. The stock has a market capitalization of $710.53 million and a P/E ratio of -16.59.

Gold Reserve (OTCMKTS:GDRZF) last posted its earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share (EPS) for the quarter.

About Gold Reserve

Gold Reserve Inc is a mineral exploration and development company incorporated in Nevada with executive offices in Vancouver, British Columbia, and Littleton, Colorado. The company focuses on the acquisition, exploration and development of precious and base metal deposits, primarily in South America. Gold Reserve’s corporate strategy centers on advancing its flagship mining interests toward production while managing the legal and regulatory framework surrounding its assets.

The company’s main asset is the Brisas Project, a former gold?copper porphyry deposit located in Bolívar State, Venezuela.