Gold Resource (NYSE:GORO) Price Target Lowered to $1.75 at HC Wainwright

Gold Resource (NYSE:GORO) had its price objective lowered by equities researchers at HC Wainwright from $2.00 to $1.75 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 49.57% from the company’s current price.

Gold Resource Price Performance

Shares of GORO opened at $1.17 on Thursday. The business’s 50-day moving average is $1.44 and its 200-day moving average is $1.02. The company has a market capitalization of $189.27 million, a price-to-earnings ratio of -2.39 and a beta of 0.81. Gold Resource has a fifty-two week low of $0.34 and a fifty-two week high of $1.87.

Institutional Investors Weigh In On Gold Resource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its stake in shares of Gold Resource by 47.5% during the 4th quarter. XTX Topco Ltd now owns 138,592 shares of the company’s stock valued at $115,000 after buying an additional 44,644 shares during the period. State Street Corp raised its holdings 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 worth $463,000 after acquiring an additional 80,600 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Gold Resource during the fourth quarter worth $105,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $3,404,000 after purchasing an additional 1,323,290 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in Gold Resource by 123.1% during the third quarter. Virtu Financial LLC now owns 132,471 shares of the company’s stock valued at $111,000 after purchasing an additional 73,101 shares during the last quarter. Hedge funds and other institutional investors own 18.38% of the company’s stock.

About Gold Resource

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.