Gulf Resources (NASDAQ:GURE) Announces Earnings Results

Gulf Resources (NASDAQ:GURE) announced its quarterly earnings data on Monday. The specialty chemicals company reported ($1.51) EPS for the quarter, Zacks reports. The company had revenue of $6.43 million for the quarter.

Gulf Resources Stock Up 4.1%

Shares of Gulf Resources stock opened at $3.12 on Wednesday. The company has a market cap of $4.81 million, a price-to-earnings ratio of -0.06 and a beta of -0.10. The company’s 50 day moving average is $3.51 and its 200 day moving average is $4.37. Gulf Resources has a twelve month low of $2.04 and a twelve month high of $11.83.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Gulf Resources

A hedge fund recently raised its position in Gulf Resources stock. Citadel Advisors LLC boosted its position in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,944 shares of the specialty chemicals company’s stock after purchasing an additional 28,020 shares during the period. Citadel Advisors LLC owned about 8.46% of Gulf Resources worth $59,000 as of its most recent SEC filing. 3.28% of the stock is owned by hedge funds and other institutional investors.

Gulf Resources Company Profile

Gulf Resources, Inc (NASDAQ: GURE) is an industrial mineral exploration and development company focused on phosphate rock and related product development. The company’s primary objective is to advance mineral projects that supply phosphate-based raw materials for agricultural and industrial applications, including production of fertilizers, animal feed supplements and specialty chemical precursors.

Gulf Resources’ flagship asset is its Hamilton County phosphate project in north central Florida, where it holds extensive mineral leases covering phosphate-bearing formations.