Gold Resource (NYSE:GORO) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Gold Resource (NYSE:GORO) from a sell rating to a hold rating in a research report report published on Friday morning.

Separately, HC Wainwright cut their price target on shares of Gold Resource from $1.75 to $1.50 and set a buy rating for the company in a report on Friday, March 15th.

Gold Resource Price Performance

GORO opened at $0.50 on Friday. The business has a 50 day simple moving average of $0.49. Gold Resource has a 1-year low of $0.22 and a 1-year high of $0.86. The stock has a market cap of $45.82 million, a price-to-earnings ratio of -2.40 and a beta of 1.58.

Gold Resource (NYSE:GORO) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. The business had revenue of $18.70 million during the quarter. On average, sell-side analysts forecast that Gold Resource will post -0.06 EPS for the current year.

Institutional Trading of Gold Resource

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Financial & Tax Architects LLC acquired a new stake in Gold Resource in the 4th quarter valued at approximately $28,000. Virtu Financial LLC acquired a new stake in Gold Resource in the 1st quarter valued at approximately $37,000. Perritt Capital Management Inc. increased its holdings in Gold Resource by 200.0% in the 3rd 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. PEAK6 Investments LLC increased 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 valued at $131,000 after purchasing an additional 57,002 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Gold Resource by 14.7% in 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 purchasing an additional 312,765 shares during the last quarter. Institutional investors and hedge funds 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.