Gold Resource (NYSE:GORO) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Sunday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright increased their target price on shares of Gold Resource from $1.50 to $1.75 and gave the company a “buy” rating in a report on Thursday, August 8th.

Gold Resource Trading Up 10.7 %

GORO opened at $0.15 on Friday. The stock has a market capitalization of $13.89 million, a P/E ratio of -0.30 and a beta of 1.50. The stock has a 50-day moving average price of $0.29 and a 200-day moving average price of $0.38. Gold Resource has a 12-month low of $0.12 and a 12-month high of $0.71.

Gold Resource (NYSE:GORO) last released its earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.27 million during the quarter. On average, equities research analysts predict that Gold Resource will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Gold Resource

A number of hedge funds and other institutional investors have recently modified their holdings of GORO. The Manufacturers Life Insurance Company purchased a new position in Gold Resource in the 3rd quarter worth approximately $110,000. Renaissance Technologies LLC grew its holdings 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 worth $559,000 after purchasing an additional 95,300 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Gold Resource in the first 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.