Gold Resource (NYSE:GORO) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Thursday. The brokerage issued a hold rating on the stock.

Gold Resource Stock Up 7.9 %

NYSE GORO opened at $0.35 on Thursday. The stock has a market capitalization of $33.36 million, a PE ratio of -0.71 and a beta of 1.53. Gold Resource has a 12-month low of $0.12 and a 12-month high of $0.71. The company has a 50 day moving average price of $0.29 and a two-hundred day moving average price of $0.30.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company purchased a new position in Gold Resource Co. (NYSE:GORO) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned about 0.33% of Gold Resource at the end of the most recent reporting period. Hedge funds and other 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.