Gold Resource (NYSE:GORO) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Gold Resource (NYSE:GOROFree Report) from a sell rating to a hold rating in a research note published on Friday.

Separately, HC Wainwright decreased their price target on Gold Resource from $1.75 to $1.50 and set a buy rating on the stock in a research note on Friday, March 15th.

Get Our Latest Analysis on Gold Resource

Gold Resource Stock Up 7.4 %

Shares of Gold Resource stock traded up $0.03 during trading on Friday, reaching $0.50. 370,897 shares of the company traded hands, compared to its average volume of 708,783. The company has a market cap of $45.82 million, a price-to-earnings ratio of -2.40 and a beta of 1.58. The company has a 50 day moving average price of $0.49. Gold Resource has a 1-year low of $0.22 and a 1-year high of $0.86.

Gold Resource (NYSE:GOROGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $18.70 million during the quarter. Gold Resource had a negative return on equity of 19.21% and a negative net margin of 22.30%. As a group, equities research analysts forecast that Gold Resource will post -0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. 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 acquiring an additional 57,002 shares during the last quarter. Financial & Tax Architects LLC purchased a new stake in shares of Gold Resource in the fourth quarter worth about $28,000. Virtu Financial LLC bought a new position in Gold Resource during the first quarter valued at approximately $37,000. Perritt Capital Management Inc. increased its stake in Gold Resource by 200.0% in the 3rd quarter. Perritt Capital Management Inc. now owns 300,000 shares of the company’s stock worth $128,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Gold Resource by 14.7% during 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 acquiring an additional 312,765 shares during the last quarter. 18.38% of the stock is currently owned by institutional investors.

Gold Resource Company Profile

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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.

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