Gold Resource (NYSE:GORO) Coverage Initiated at StockNews.com

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

Gold Resource Stock Performance

NYSE GORO opened at $0.35 on Monday. The company has a fifty day simple moving average of $0.43. Gold Resource has a one year low of $0.22 and a one year high of $0.71. The firm has a market capitalization of $31.90 million, a price-to-earnings ratio of -1.67 and a beta of 1.45.

Hedge Funds Weigh In On Gold Resource

A number of hedge funds and other institutional investors have recently bought and sold shares of GORO. Mirae Asset Global Investments Co. Ltd. raised its position in Gold Resource by 14.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock worth $1,050,000 after buying an additional 312,765 shares during the last quarter. Virtu Financial LLC purchased a new position in Gold Resource during the first quarter worth about $37,000. Finally, Financial & Tax Architects LLC acquired a new stake in Gold Resource in the fourth quarter valued at about $28,000. 18.38% of the stock is currently owned by hedge funds and other 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.