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

Stock analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GORO) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.

Gold Resource Stock Performance

GORO opened at $0.17 on Wednesday. Gold Resource has a twelve month low of $0.12 and a twelve month high of $0.71. The firm has a market cap of $16.10 million, a price-to-earnings ratio of -0.34 and a beta of 1.60. The company has a fifty day simple moving average of $0.23 and a 200 day simple moving average of $0.34.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company bought a new stake in shares of Gold Resource Co. (NYSE:GORO) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned 0.33% of Gold Resource as of its most recent SEC filing. 18.38% of the stock is currently owned by hedge funds and other 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.