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

StockNews.com started coverage on shares of Gold Resource (NYSE:GORO) in a report released on Wednesday. The brokerage issued a sell rating on the stock.

Separately, HC Wainwright boosted their price target on Gold Resource from $1.50 to $1.75 and gave the company a “buy” rating in a research note on Thursday, August 8th.

Gold Resource Stock Up 4.1 %

Shares of NYSE:GORO opened at $0.42 on Wednesday. The firm has a fifty day moving average of $0.37 and a two-hundred day moving average of $0.43. Gold Resource has a 12-month low of $0.22 and a 12-month high of $0.71. The firm has a market capitalization of $38.11 million, a P/E ratio of -2.00 and a beta of 1.44.

Gold Resource (NYSE:GORO) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter. Gold Resource had a negative net margin of 51.93% and a negative return on equity of 27.52%. The firm had revenue of $20.78 million for the quarter. Equities research analysts expect that Gold Resource will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in Gold Resource by 14.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock worth $1,050,000 after buying an additional 312,765 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Gold Resource by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock worth $559,000 after acquiring an additional 95,300 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Gold Resource during the 1st quarter valued at about $37,000. Institutional investors 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.