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

StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report released on Wednesday morning. The firm issued a sell rating on the stock.

Separately, HC Wainwright cut their price target on shares of 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 %

Gold Resource stock traded up $0.02 during midday trading on Wednesday, reaching $0.49. 561,195 shares of the company’s stock were exchanged, compared to its average volume of 763,231. Gold Resource has a 52 week low of $0.22 and a 52 week high of $0.94. The company has a market cap of $44.40 million, a price-to-earnings ratio of -2.33 and a beta of 1.58. The firm has a 50-day moving average price of $0.46.

Gold Resource (NYSE:GORO) last issued 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 19.21% and a negative net margin of 22.30%. The company had revenue of $21.14 million for the quarter. On average, sell-side analysts expect 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 and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Gold Resource by 14.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,441,384 shares of the company’s stock valued at $1,050,000 after buying an additional 312,765 shares during the period. PEAK6 Investments LLC lifted its holdings in shares of Gold Resource by 22.8% in the 3rd quarter. PEAK6 Investments LLC now owns 307,003 shares of the company’s stock valued at $131,000 after acquiring an additional 57,002 shares during the last quarter. Perritt Capital Management Inc. lifted its stake in Gold Resource by 200.0% in the third quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock worth $128,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Financial & Tax Architects LLC acquired a new position in shares of Gold Resource during the fourth quarter valued at about $28,000. Hedge funds and other 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.