Gulf Resources (NASDAQ:GURE) Posts Quarterly Earnings Results

Gulf Resources (NASDAQ:GURE) released its quarterly earnings results on Monday. The specialty chemicals company reported ($1.51) earnings per share (EPS) for the quarter, Zacks reports.

Gulf Resources Stock Performance

Shares of GURE stock opened at $3.00 on Tuesday. The company has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $4.38. The company has a market capitalization of $4.62 million, a price-to-earnings ratio of -0.06 and a beta of -0.10. Gulf Resources has a 52 week low of $2.04 and a 52 week high of $11.83.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On Gulf Resources

An institutional investor recently raised its position in Gulf Resources stock. Citadel Advisors LLC raised its stake in Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,944 shares of the specialty chemicals company’s stock after buying an additional 28,020 shares during the period. Citadel Advisors LLC owned about 8.46% of Gulf Resources worth $59,000 at the end of the most recent quarter. 3.28% of the stock is owned by hedge funds and other institutional investors.

About Gulf Resources

Gulf Resources, Inc (NASDAQ: GURE) is an industrial mineral exploration and development company focused on phosphate rock and related product development. The company’s primary objective is to advance mineral projects that supply phosphate-based raw materials for agricultural and industrial applications, including production of fertilizers, animal feed supplements and specialty chemical precursors.

Gulf Resources’ flagship asset is its Hamilton County phosphate project in north central Florida, where it holds extensive mineral leases covering phosphate-bearing formations.