Gold Resource (NYSE:GORO) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Friday. The brokerage set a “sell” rating on the stock.

Separately, HC Wainwright reduced their price objective on Gold Resource from $1.75 to $1.50 and set a “buy” rating for the company in a report on Friday, March 15th.

Gold Resource Price Performance

NYSE GORO opened at $0.50 on Friday. Gold Resource has a one year low of $0.22 and a one year high of $0.99. The stock has a market capitalization of $44.74 million, a P/E ratio of -2.96 and a beta of 1.61.

Gold Resource (NYSE:GORO) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.03) EPS for the quarter. Gold Resource had a negative return on equity of 15.48% and a negative net margin of 16.39%. The business had revenue of $21.14 million during the quarter. On average, sell-side analysts expect that Gold Resource will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial & Tax Architects LLC purchased a new position in Gold Resource in the fourth quarter worth about $28,000. Perritt Capital Management Inc. lifted its position in shares of Gold Resource by 200.0% during the 3rd quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock valued at $128,000 after buying an additional 200,000 shares in the last quarter. PEAK6 Investments LLC lifted its position in shares of Gold Resource by 22.8% during the 3rd quarter. PEAK6 Investments LLC now owns 307,003 shares of the company’s stock valued at $131,000 after buying an additional 57,002 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Gold Resource by 1.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,204,294 shares of the company’s stock valued at $943,000 after buying an additional 27,603 shares in the last quarter. 18.38% of the stock is owned by hedge funds and other institutional investors.

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.