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

Analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report issued on Friday. The firm set a “hold” rating on the stock.

Gold Resource Trading Up 5.4 %

GORO opened at $0.23 on Friday. The business’s 50 day moving average is $0.19 and its 200-day moving average is $0.32. The stock has a market cap of $22.10 million, a PE ratio of -0.47 and a beta of 1.60. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71.

Gold Resource (NYSE:GORO) last announced its earnings results on Tuesday, November 5th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Gold Resource had a negative net margin of 61.31% and a negative return on equity of 35.25%. The business had revenue of $13.27 million for the quarter. As a group, analysts forecast that Gold Resource will post -0.38 EPS for the current year.

Institutional Trading of Gold Resource

A hedge fund recently bought a new stake in Gold Resource stock. The Manufacturers Life Insurance Company bought a new position in shares of Gold Resource Co. (NYSE:GORO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned approximately 0.33% of Gold Resource at the end of the most recent reporting period. 18.38% of the stock is currently 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.