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

by · The Markets Daily

StockNews.com started coverage on shares of Gold Resource (NYSE:GORO – Free Report) in a research note released on Friday. The brokerage issued a hold rating on the stock.

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

View Our Latest Report on GORO

Gold Resource Trading Up 12.9 %

GORO stock opened at $0.14 on Friday. The stock has a market cap of $13.09 million, a P/E ratio of -0.30 and a beta of 1.51. Gold Resource has a 1-year low of $0.12 and a 1-year high of $0.71. The stock’s fifty day simple moving average is $0.34 and its two-hundred day simple moving average is $0.41.

Gold Resource (NYSE:GORO – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter. Gold Resource had a negative return on equity of 27.52% and a negative net margin of 51.93%. The firm had revenue of $20.78 million during the quarter. As a group, analysts forecast that Gold Resource will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gold Resource

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Gold Resource by 14.7% in the first 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 in the last quarter. Virtu Financial LLC purchased a new stake in Gold Resource in the first quarter valued at approximately $37,000. Finally, Renaissance Technologies LLC raised its stake in 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 purchasing an additional 95,300 shares in the last quarter. 18.38% of the stock is owned by hedge funds and other institutional investors.

Gold Resource Company Profile

(Get Free Report)

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.

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