Gulf Resources (NASDAQ:GURE) Announces Quarterly Earnings Results

Gulf Resources (NASDAQ:GURE) issued its quarterly earnings results on Monday. The specialty chemicals company reported ($1.51) earnings per share for the quarter, Zacks reports.

Gulf Resources Stock Performance

Shares of Gulf Resources stock opened at $3.00 on Tuesday. Gulf Resources has a one year low of $2.04 and a one year high of $11.83. The company has a market cap of $4.62 million, a P/E ratio of -0.06 and a beta of -0.10. The firm has a fifty day moving average of $3.53 and a two-hundred day moving average of $4.38.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gulf Resources currently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC increased its position in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,944 shares of the specialty chemicals company’s stock after purchasing an additional 28,020 shares during the period. Citadel Advisors LLC owned approximately 8.46% of Gulf Resources worth $59,000 as of its most recent SEC filing. 3.28% of the stock is currently owned by institutional investors.

Gulf Resources Company Profile

Gulf Resources, Inc (NASDAQ: GURE) is an industrial mineral exploration and development company focused on phosphate rock and related product development. The company’s primary objective is to advance mineral projects that supply phosphate-based raw materials for agricultural and industrial applications, including production of fertilizers, animal feed supplements and specialty chemical precursors.

Gulf Resources’ flagship asset is its Hamilton County phosphate project in north central Florida, where it holds extensive mineral leases covering phosphate-bearing formations.