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

Equities researchers at StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a report released on Friday. The firm set a “sell” rating on the stock.

Separately, HC Wainwright reduced their price objective on Gold Resource from $1.75 to $1.25 and set a “buy” rating on the stock in a research note on Friday, March 7th.

Gold Resource Price Performance

Shares of GORO opened at $0.41 on Friday. The company has a market capitalization of $38.70 million, a P/E ratio of -0.83 and a beta of 1.18. Gold Resource has a one year low of $0.12 and a one year high of $0.74. The business’s 50 day simple moving average is $0.46 and its 200-day simple moving average is $0.33.

Hedge Funds Weigh In On Gold Resource

A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC lifted its position in shares of Gold Resource by 669.8% during the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock worth $41,000 after purchasing an additional 155,664 shares in the last quarter. Shay Capital LLC raised its position in Gold Resource by 114.1% in the 4th quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock worth $58,000 after purchasing an additional 134,077 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Gold Resource during the 4th quarter worth $119,000. 18.38% of the stock is owned by institutional investors.

About Gold Resource

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.