Gold Resource (NYSE:GORO) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a research note released on Wednesday morning. The brokerage issued a sell rating on the stock.

Separately, HC Wainwright lowered their price target on Gold Resource from $1.75 to $1.50 and set a buy rating on the stock in a research report on Friday, March 15th.

Gold Resource Trading Up 3.4 %

Shares of NYSE GORO traded up $0.02 during mid-day trading on Wednesday, hitting $0.49. The company had a trading volume of 561,195 shares, compared to its average volume of 763,231. Gold Resource has a 12 month low of $0.22 and a 12 month high of $0.94. The firm has a market cap of $44.40 million, a PE ratio of -2.33 and a beta of 1.58. The firm’s 50 day simple moving average is $0.46.

Gold Resource (NYSE:GORO) last posted its earnings results on Wednesday, March 13th. The company reported ($0.03) EPS for the quarter. Gold Resource had a negative net margin of 22.30% and a negative return on equity of 19.21%. The business had revenue of $21.14 million during the quarter. Equities analysts anticipate that Gold Resource will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Gold Resource

A number of hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Gold Resource by 1.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,204,294 shares of the company’s stock worth $943,000 after acquiring an additional 27,603 shares during the last quarter. PEAK6 Investments LLC boosted its position in shares of Gold Resource by 22.8% in 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 period. Financial & Tax Architects LLC acquired a new stake in shares of Gold Resource in the fourth quarter worth $28,000. Finally, Perritt Capital Management Inc. boosted its position in Gold Resource by 200.0% during the third quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock valued at $128,000 after purchasing an additional 200,000 shares during the last quarter. 18.38% of the stock is currently owned by institutional investors and hedge funds.

Gold Resource Company Profile

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.