Gold Reserve (OTCMKTS:GDRZF) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Shares of Gold Reserve Inc. (OTCMKTS:GDRZF) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.70 and traded as low as $4.64. Gold Reserve shares last traded at $4.75, with a volume of 15,889 shares traded.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald initiated coverage on Gold Reserve in a report on Tuesday, May 5th. They issued a “speculative buy” rating for the company. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Gold Reserve presently has a consensus rating of “Buy”.

Gold Reserve Trading Up 0.6%

The stock has a fifty day simple moving average of $4.70 and a two-hundred day simple moving average of $4.29. The company has a market cap of $686.90 million and a PE ratio of -15.50.

Gold Reserve (OTCMKTS:GDRZF) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) 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.