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

StockNews.com started coverage on shares of Gold Resource (NYSE:GORO) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the stock.

Gold Resource Trading Up 15.7 %

Shares of NYSE:GORO opened at $0.35 on Wednesday. The company has a market capitalization of $33.39 million, a price-to-earnings ratio of -0.71 and a beta of 1.53. Gold Resource has a 12 month low of $0.12 and a 12 month high of $0.71. The firm’s 50-day moving average is $0.27 and its 200 day moving average is $0.30.

Gold Resource (NYSE:GORO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Gold Resource had a negative return on equity of 35.25% and a negative net margin of 61.31%. The business had revenue of $13.27 million during the quarter. As a group, equities analysts forecast that Gold Resource will post -0.38 EPS for the current fiscal 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 Gold Resource Co. (NYSE:GORO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned approximately 0.33% of Gold Resource at the end of the most recent reporting period. Hedge funds and other 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.