Gold Resource (NYSE:GORO) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Gold Resource (NYSE:GORO) to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, HC Wainwright cut their target price on shares of Gold Resource from $2.00 to $1.75 and set a “buy” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1.75.

Gold Resource Stock Down 12.0%

Gold Resource stock opened at $0.99 on Thursday. Gold Resource has a 52-week low of $0.34 and a 52-week high of $1.87. The company has a market cap of $159.37 million, a P/E ratio of -2.01 and a beta of 0.81. The business has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $1.02.

Institutional Trading of Gold Resource

Several institutional investors and hedge funds have recently added to or reduced their stakes in GORO. XTX Topco Ltd lifted its holdings in Gold Resource by 47.5% in the 4th quarter. XTX Topco Ltd now owns 138,592 shares of the company’s stock worth $115,000 after purchasing an additional 44,644 shares in the last quarter. State Street Corp raised its position in shares of Gold Resource by 16.8% during the fourth quarter. State Street Corp now owns 559,416 shares of the company’s stock valued at $463,000 after buying an additional 80,600 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Gold Resource during the fourth quarter valued at approximately $105,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Gold Resource by 48.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,071,771 shares of the company’s stock worth $3,404,000 after acquiring an additional 1,323,290 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in shares of Gold Resource by 123.1% during 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 last quarter. Institutional investors own 18.38% of the company’s stock.

Gold Resource Company Profile

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.