HC Wainwright Reiterates Buy Rating for Gold Resource (NYSE:GORO)

Gold Resource (NYSE:GORO)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $2.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 27.39% from the stock’s current price.

Gold Resource Stock Performance

GORO stock opened at $1.57 on Tuesday. The firm has a market cap of $253.97 million, a P/E ratio of -3.20 and a beta of 0.82. Gold Resource has a 1 year low of $0.29 and a 1 year high of $1.87. The stock has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $0.78.

Hedge Funds Weigh In On Gold Resource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new stake in shares of Gold Resource during the second quarter valued at about $56,000. Virtu Financial LLC boosted its holdings in Gold Resource by 123.1% in 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. Jane Street Group LLC grew its stake in Gold Resource by 165.2% during 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 in the last quarter. Squarepoint Ops LLC purchased a new stake in Gold Resource during the 3rd quarter worth approximately $359,000. Finally, Two Sigma Investments LP raised its position in shares of 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 in the last quarter. 18.38% of the stock is owned by hedge funds and other institutional investors.

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.