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

Investment analysts at StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the stock.

Gold Resource Stock Up 5.4 %

Shares of NYSE GORO opened at $0.23 on Friday. The stock’s 50 day moving average price is $0.19 and its two-hundred day moving average price is $0.32. Gold Resource has a 52-week low of $0.12 and a 52-week high of $0.71. The stock has a market capitalization of $22.10 million, a P/E ratio of -0.47 and a beta of 1.60.

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

Institutional Investors Weigh In On Gold Resource

An institutional investor recently bought a new position in Gold Resource stock. The Manufacturers Life Insurance Company acquired a new position in shares of Gold Resource Co. (NYSE:GORO) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 315,978 shares of the company’s stock, valued at approximately $110,000. The Manufacturers Life Insurance Company owned about 0.33% of Gold Resource at the end of the most recent reporting period. 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.