Gold Resource (NYSE:GORO) Upgraded at StockNews.com

Gold Resource (NYSE:GORO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, HC Wainwright decreased their price objective on shares of Gold Resource from $1.75 to $1.50 and set a “buy” rating on the stock in a research note on Friday, March 15th.

Gold Resource Price Performance

Shares of GORO stock opened at $0.50 on Friday. Gold Resource has a 12-month low of $0.22 and a 12-month high of $0.86. The stock’s 50 day moving average is $0.49. The firm has a market capitalization of $45.82 million, a P/E ratio of -2.40 and a beta of 1.58.

Gold Resource (NYSE:GORO) last announced its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. The business had revenue of $18.70 million for the quarter. Research analysts forecast that Gold Resource will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Gold Resource

A number of hedge funds and other institutional investors have recently modified their holdings of GORO. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Gold Resource by 14.7% during the first 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. Perritt Capital Management Inc. grew its stake in shares of Gold Resource by 200.0% during the third quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock worth $128,000 after buying an additional 200,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Gold Resource during the first quarter worth $37,000. Financial & Tax Architects LLC bought a new stake in shares of Gold Resource during the fourth quarter worth $28,000. Finally, PEAK6 Investments LLC grew its stake in shares of Gold Resource by 22.8% during the third quarter. PEAK6 Investments LLC now owns 307,003 shares of the company’s stock worth $131,000 after buying an additional 57,002 shares during the last quarter. 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.