StockNews.com Initiates Coverage on Gold Resource (NYSE:GORO)

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

Separately, HC Wainwright dropped 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

GORO opened at $0.51 on Friday. Gold Resource has a 52 week low of $0.22 and a 52 week high of $0.99. The company has a market capitalization of $45.18 million, a PE ratio of -2.99 and a beta of 1.61.

Gold Resource (NYSE:GORO) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.03) earnings per share (EPS) for the quarter. Gold Resource had a negative return on equity of 15.48% and a negative net margin of 16.39%. The firm had revenue of $21.14 million during the quarter. As a group, research analysts expect that Gold Resource will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gold Resource

Hedge funds have recently added to or reduced their stakes in the stock. Financial & Tax Architects LLC bought a new stake in Gold Resource during the 4th quarter valued at about $28,000. Perritt Capital Management Inc. increased its position 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 valued at $128,000 after acquiring an additional 200,000 shares in the last quarter. PEAK6 Investments LLC raised its holdings in Gold Resource by 22.8% in the 3rd quarter. PEAK6 Investments LLC now owns 307,003 shares of the company’s stock worth $131,000 after acquiring an additional 57,002 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $943,000 after acquiring an additional 27,603 shares in the last quarter. 18.38% of the stock is owned by institutional investors.

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.