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

StockNews.com assumed coverage on shares of Gold Resource (NYSE:GORO) in a research report report published on Saturday morning. The brokerage issued a hold rating on the stock.

Gold Resource Price Performance

Gold Resource stock opened at $0.48 on Friday. The stock’s 50 day moving average price is $0.34 and its 200 day moving average price is $0.30. The company has a market cap of $45.74 million, a PE ratio of -0.98 and a beta of 1.53. Gold Resource has a 1-year low of $0.12 and a 1-year high of $0.71.

Hedge Funds Weigh In On Gold Resource

A number of large investors have recently made changes to their positions in GORO. Squarepoint Ops LLC acquired a new position in Gold Resource during the fourth quarter worth about $119,000. Shay Capital LLC boosted its stake in shares of Gold Resource by 114.1% during the 4th quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock worth $58,000 after acquiring an additional 134,077 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Gold Resource by 669.8% in the 4th quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock worth $41,000 after acquiring an additional 155,664 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in Gold Resource in the 3rd quarter valued at approximately $110,000. Hedge funds and other institutional investors own 18.38% of the company’s stock.

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.