StockNews.com Begins Coverage on Gold Resource (NYSE:GORO)

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

Gold Resource Stock Down 4.3 %

Shares of GORO opened at $0.42 on Friday. The business’s 50-day moving average is $0.45. The company has a market capitalization of $37.95 million, a P/E ratio of -1.99 and a beta of 1.46. Gold Resource has a 1 year low of $0.22 and a 1 year high of $0.71.

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

Institutional Trading of Gold Resource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial & Tax Architects LLC bought a new stake in Gold Resource during the 4th quarter valued at $28,000. Virtu Financial LLC acquired a new position in shares of Gold Resource during the first quarter valued at about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 312,765 shares in the last quarter. 18.38% of the stock is owned by institutional investors.

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.