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

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

Separately, HC Wainwright increased their target price on Gold Resource from $1.50 to $1.75 and gave the stock a buy rating in a report on Thursday, August 8th.

Gold Resource Stock Performance

GORO stock opened at $0.37 on Friday. Gold Resource has a 1-year low of $0.22 and a 1-year high of $0.71. The company has a market cap of $33.66 million, a price-to-earnings ratio of -1.77 and a beta of 1.45. The firm has a 50 day moving average of $0.40.

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

Institutional Investors Weigh In On Gold Resource

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Gold Resource in the first quarter valued at about $37,000. Renaissance Technologies LLC boosted its stake in Gold Resource by 6.8% in the second quarter. Renaissance Technologies LLC now owns 1,496,390 shares of the company’s stock valued at $559,000 after acquiring an additional 95,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Gold Resource by 14.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after acquiring an additional 312,765 shares during the last quarter. 18.38% of the stock is owned by institutional investors.

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.