1. Gold Reserve (GRZ) is an exploration stage company engaged in the business of acquiring, exploring and developing mining projects. It is focused on the development of the Brisas gold and copper project located in the mining district of the State of Bolivar in southeastern Venezuela. The stock has gained 13.7% during the past one week.
Being an exploration stage company, GRZ has not generated any revenue until date. Consequently, net loss for the first quarter ended March 2011 stood at $5.2 million or 9 cents per share, compared to $4.4 million or 8 cents per share in the year-ago quarter. Cash and cash equivalents increased 10.4% sequentially to $64.2 million from $58.2 million as of Dec. 2010. Moreover, the company's liquidity position is robust, as represented by a current ratio of 21.66.
One analyst covering the stock recommends a hold.
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