StockNews.com Begins Analysis of Gold Resource (NYSEAMERICAN:GORO)

Research analysts at StockNews.com have recently initiated coverage on Gold Resource Corporation, traded under the ticker GORO on the NYSE American exchange. The firm has issued a "sell" rating for the basic materials company's stock which marks a new level of interest from the analytical community about the company's financial health and future prospects. This development comes on the heels of updated information from other research firms, with HC Wainwright having revised their price objective on GORO shares from $3.25 to $1.75, while maintaining a "buy" rating.

Gold Resource Price Performance

The stock of Gold Resource opened at $0.26 on Thursday, which is also its 1 year low. The company's share price has seen a 1 year high of $1.80, suggesting significant volatility over the past months. Currently, Gold Resource holds a market capitalization of $23.43 million with a P/E ratio standing at -5.30, accompanied by a beta of 1.52, indicating a higher-than-average volatility in comparison to the broader market.

Institutional Investors Take Action

Gold Resource has seen various shifts amongst its institutional investors recently. Arete Wealth Advisors LLC made a notable new investment in the company's shares, valued at approximately $15.972 billion. Other financial institutions such as State Street Corporation STT increased their holdings by 5.2%, equating to 307,716 shares valued at approximately $323,000. Following suit, First Trust Advisors LP also grew their stake by 8.3% in the company. An even newer position was established by Engineers Gate Manager LP, entering at around $28,000. Furthermore, Northern Trust Corporation NTRS raised its ownership by an 11.3% margin.

Gold Resource Company Profile

Gold Resource Corporation is actively involved in the exploration, development, and production of gold and silver projects in Mexico and the United States. Aside from precious metals, the company also ventures into copper, lead, and zinc deposit explorations. One of its key properties includes the 100% owned Back Forty project located in Menominee County, Michigan, which spans approximately 1,304 hectares.

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