Gold Resource (NYSE:GORO) Now Covered by StockNews.com

Stock analysts at StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a research report issued to clients and investors on Saturday. The brokerage set a “sell” rating on the stock.

Gold Resource Trading Down 8.2 %

GORO opened at $0.45 on Friday. The firm has a market cap of $40.86 million, a price-to-earnings ratio of -2.14 and a beta of 1.46. The stock has a 50 day moving average of $0.46. Gold Resource has a twelve month low of $0.22 and a twelve month high of $0.71.

Gold Resource (NYSE:GORO) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $18.70 million for the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. On average, research analysts expect that Gold Resource will post -0.06 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Gold Resource by 14.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after buying an additional 312,765 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Gold Resource in the 1st quarter valued at $37,000. Finally, Financial & Tax Architects LLC acquired a new stake in shares of Gold Resource in the 4th quarter valued at $28,000. 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.