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

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

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

Gold Resource Price Performance

Shares of GORO stock opened at $0.42 on Wednesday. The company has a fifty day simple moving average of $0.42. Gold Resource has a 1 year low of $0.22 and a 1 year high of $0.71. The firm has a market cap of $38.35 million, a price-to-earnings ratio of -2.01 and a beta of 1.45.

Gold Resource (NYSE:GORO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter. Gold Resource had a negative net margin of 22.30% and a negative return on equity of 19.21%. The company had revenue of $20.78 million during the quarter. Equities analysts expect that Gold Resource will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GORO. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 purchasing an additional 312,765 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 95,300 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Gold Resource during the 1st quarter worth approximately $37,000. Institutional investors own 18.38% of the company’s stock.

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.