Gold Resource (NYSE:GORO) Earns Sell Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Gold Resource (NYSE:GOROGet Free Report) in a research note issued on Sunday. The firm set a “sell” rating on the stock.

Separately, HC Wainwright dropped their price objective on shares of Gold Resource from $1.75 to $1.50 and set a “buy” rating on the stock in a report on Friday, March 15th.

View Our Latest Stock Report on Gold Resource

Gold Resource Trading Up 8.4 %

Shares of NYSE GORO opened at $0.43 on Friday. Gold Resource has a 1-year low of $0.22 and a 1-year high of $1.19. The stock has a market cap of $38.45 million, a PE ratio of -2.56 and a beta of 1.52.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GORO. JPMorgan Chase & Co. grew its position in shares of Gold Resource by 57.9% during the 1st quarter. JPMorgan Chase & Co. now owns 76,359 shares of the company’s stock valued at $171,000 after acquiring an additional 27,989 shares during the period. Bank of New York Mellon Corp grew its position in shares of Gold Resource by 59.1% during the 1st quarter. Bank of New York Mellon Corp now owns 282,877 shares of the company’s stock valued at $634,000 after acquiring an additional 105,048 shares during the period. Vanguard Group Inc. grew its position in shares of Gold Resource by 22.6% during the 1st quarter. Vanguard Group Inc. now owns 4,054,741 shares of the company’s stock valued at $9,083,000 after acquiring an additional 746,896 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Gold Resource by 89.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 48,406 shares of the company’s stock valued at $109,000 after acquiring an additional 22,830 shares during the period. Finally, Northern Trust Corp boosted its holdings in Gold Resource by 11.3% in the 1st quarter. Northern Trust Corp now owns 190,511 shares of the company’s stock worth $427,000 after buying an additional 19,296 shares during the period. 18.38% of the stock is owned by institutional investors.

About Gold Resource

(Get Free Report)

Gold Resource Corporation engages in the exploration, development, and production of gold and silver projects in Mexico and the United States. The company explores for copper, lead, and zinc deposits. Its principal asset is the 100% owned Back Forty project covering approximately 1,304 hectares located in Menominee county, Michigan.

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