Gulf Resources (NASDAQ:GURE) Issues Quarterly Earnings Results

Gulf Resources (NASDAQ:GURE) posted its earnings results on Monday. The specialty chemicals company reported ($1.51) earnings per share for the quarter, Zacks reports.

Gulf Resources Stock Performance

Shares of GURE stock opened at $3.00 on Tuesday. The stock’s 50-day moving average is $3.53 and its two-hundred day moving average is $4.38. Gulf Resources has a 1 year low of $2.04 and a 1 year high of $11.83. The firm has a market cap of $4.62 million, a price-to-earnings ratio of -0.06 and a beta of -0.10.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Gulf Resources from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Gulf Resources

A hedge fund recently raised its position in Gulf Resources stock. Citadel Advisors LLC increased its position in shares of Gulf Resources, Inc. (NASDAQ:GURE) by 33.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,944 shares of the specialty chemicals company’s stock after buying an additional 28,020 shares during the quarter. Citadel Advisors LLC owned about 8.46% of Gulf Resources worth $59,000 as of its most recent SEC filing. 3.28% of the stock is currently owned by hedge funds and other institutional investors.

About Gulf Resources

Gulf Resources, Inc (NASDAQ: GURE) is an industrial mineral exploration and development company focused on phosphate rock and related product development. The company’s primary objective is to advance mineral projects that supply phosphate-based raw materials for agricultural and industrial applications, including production of fertilizers, animal feed supplements and specialty chemical precursors.

Gulf Resources’ flagship asset is its Hamilton County phosphate project in north central Florida, where it holds extensive mineral leases covering phosphate-bearing formations.