Gold Resource (NYSE:GORO) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Gold Resource (NYSE:GORO) in a report issued on Tuesday morning,Benzinga reports. HC Wainwright currently has a $2.00 target price on the stock.

Gold Resource Stock Performance

Shares of GORO stock opened at $1.72 on Tuesday. Gold Resource has a 52-week low of $0.29 and a 52-week high of $1.87. The stock has a market cap of $278.24 million, a price-to-earnings ratio of -3.51 and a beta of 0.82. The firm’s 50-day moving average is $0.95 and its 200-day moving average is $0.77.

Institutional Trading of Gold Resource

Hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors bought a new position in Gold Resource in the 2nd quarter valued at about $56,000. Virtu Financial LLC increased its stake 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 purchasing an additional 73,101 shares during the period. Squarepoint Ops LLC acquired a new stake in Gold Resource during the 3rd quarter worth approximately $359,000. Jane Street Group LLC boosted its stake in Gold Resource by 165.2% in the 1st quarter. Jane Street Group LLC now owns 474,468 shares of the company’s stock valued at $242,000 after purchasing an additional 295,565 shares during the period. Finally, Two Sigma Investments LP boosted its stake in Gold Resource by 1,268.0% in the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock valued at $824,000 after purchasing an additional 913,684 shares during the period. 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.