HC Wainwright Reiterates “Buy” Rating for Gold Resource (NYSE:GORO)

Gold Resource (NYSE:GORO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $2.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 14.94% from the company’s previous close.

Gold Resource Trading Up 8.1%

Shares of GORO stock opened at $1.74 on Tuesday. Gold Resource has a 12 month low of $0.29 and a 12 month high of $1.87. The stock has a market cap of $281.47 million, a P/E ratio of -3.55 and a beta of 0.82. The company has a 50 day simple moving average of $0.92 and a two-hundred day simple moving average of $0.76.

Hedge Funds Weigh In On Gold Resource

Large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in shares of Gold Resource during the 2nd quarter valued at $56,000. Virtu Financial LLC boosted its stake in shares of Gold Resource by 123.1% in the third quarter. Virtu Financial LLC now owns 132,471 shares of the company’s stock worth $111,000 after acquiring an additional 73,101 shares during the period. Jane Street Group LLC boosted its stake in shares of Gold Resource by 165.2% in the first quarter. Jane Street Group LLC now owns 474,468 shares of the company’s stock worth $242,000 after acquiring an additional 295,565 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Gold Resource during the third quarter worth about $359,000. Finally, Two Sigma Investments LP raised its stake in Gold Resource by 1,268.0% during the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock valued at $824,000 after purchasing an additional 913,684 shares during the period. Hedge funds and other institutional investors own 18.38% of the company’s stock.

About Gold Resource

Gold Resource Corporation (NYSE: GORO) is a Denver, Colorado–based precious metals producer focused on gold and silver mining and processing. The company’s principal operations are located in Oaxaca State, Mexico, where it holds 100% interest in the Arista underground mine and the El Águila tailings reprocessing facility. Gold Resource’s Mexican operations are complemented by corporate and administrative offices in Denver and field offices in Mexico City.

At the Arista mine, Gold Resource conducts underground mining of high-grade gold and silver veins, producing doré bars and metal concentrates that are shipped to third-party smelters.