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

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Wednesday. The firm issued a sell rating on the stock.

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

Gold Resource Price Performance

Gold Resource stock opened at $0.42 on Wednesday. Gold Resource has a fifty-two week low of $0.22 and a fifty-two week high of $0.71. The firm has a fifty day moving average price of $0.37 and a two-hundred day moving average price of $0.43. The firm has a market cap of $38.11 million, a price-to-earnings ratio of -2.00 and a beta of 1.44.

Gold Resource (NYSE:GORO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share 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 for the quarter. As a group, sell-side analysts expect that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Gold Resource in the first quarter valued at about $37,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 acquiring an additional 312,765 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Gold Resource by 6.8% in 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 during the period. 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.