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

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

Gold Resource Stock Performance

Shares of Gold Resource stock opened at $0.38 on Tuesday. The firm has a market cap of $36.26 million, a PE ratio of -0.78 and a beta of 1.48. The firm’s 50-day simple moving average is $0.25 and its 200-day simple moving average is $0.31. Gold Resource has a 1 year low of $0.12 and a 1 year high of $0.71.

Gold Resource (NYSE:GORO) last issued its earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The company had revenue of $13.27 million during the quarter. Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. On average, equities analysts predict that Gold Resource will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Gold Resource

A hedge fund recently bought a new stake in Gold Resource stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Gold Resource Co. (NYSE:GORO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 as of its most recent SEC filing. 18.38% of the stock is currently owned by hedge funds and other 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.