Gold Resource (NYSE:GORO) Price Target Raised to $1.50 at HC Wainwright

Key Points

• HC Wainwright has raised its price target for Gold Resource (NYSE:GORO) from $1.25 to $1.50, suggesting a potential upside of 231.05% from the current price.
• Recently, Wall Street Zen initiated coverage on Gold Resource with a "sell" rating, contrasting with HC Wainwright's "buy" rating.
• Institutional investors have significantly increased their holdings of Gold Resource, with Jane Street Group boosting its stake by 669.8% in the last quarter.

Gold Resource (NYSE:GORO - Free Report) had its price target increased by HC Wainwright from $1.25 to $1.50 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Wall Street Zen began coverage on shares of Gold Resource in a research report on Sunday, May 4th. They issued a "sell" rating on the stock.

Gold Resource Price Performance

NYSE:GORO traded up $0.08 during mid-day trading on Friday, reaching $0.53. 16,826,794 shares of the company's stock traded hands, compared to its average volume of 2,636,816. Gold Resource has a 12-month low of $0.12 and a 12-month high of $0.82. The firm has a market capitalization of $72.30 million, a price-to-earnings ratio of -1.08 and a beta of 0.76. The company has a 50 day moving average price of $0.60 and a 200-day moving average price of $0.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Gold Resource during the first quarter worth about $43,000. XTX Topco Ltd lifted its holdings in Gold Resource by 36.7% in the 1st quarter. XTX Topco Ltd now owns 109,984 shares of the company's stock valued at $56,000 after purchasing an additional 29,543 shares in the last quarter. Jane Street Group LLC grew its holdings in Gold Resource by 669.8% in the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company's stock valued at $41,000 after purchasing an additional 155,664 shares during the period. Shay Capital LLC increased its position in shares of Gold Resource by 114.1% in the fourth quarter. Shay Capital LLC now owns 251,550 shares of the company's stock worth $58,000 after acquiring an additional 134,077 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Gold Resource during the fourth quarter worth $119,000. 18.38% of the stock is owned by hedge funds and other institutional investors.

Gold Resource Company Profile

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