Gold Resource (NYSE:GORO) Trading Down 1.2% – Here’s What Happened
by Renee Jackson · The Cerbat GemGold Resource Co. (NYSE:GORO – Get Free Report) shares dropped 1.2% on Tuesday . The company traded as low as $0.85 and last traded at $0.85. Approximately 973,775 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 2,434,907 shares. The stock had previously closed at $0.8599.
Gold Resource Stock Performance
The company has a market cap of $133.94 million, a PE ratio of -1.69 and a beta of 0.81. The company’s 50 day moving average price is $0.77 and its 200-day moving average price is $0.70.
Institutional Investors Weigh In On Gold Resource
Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Gold Resource by 61.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,325,501 shares of the company’s stock valued at $1,185,000 after purchasing an additional 881,701 shares during the last quarter. Jane Street Group LLC raised its position in shares of Gold Resource by 165.2% in the first 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 during the period. Geode Capital Management LLC lifted its stake in shares of Gold Resource by 39.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,381,916 shares of the company’s stock valued at $843,000 after buying an additional 394,028 shares in the last quarter. Captrust Financial Advisors bought a new position in Gold Resource in the 2nd quarter worth approximately $56,000. Finally, Vanguard Group Inc. grew its stake in Gold Resource by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,148,795 shares of the company’s stock valued at $5,140,000 after buying an additional 91,241 shares in the last quarter. Hedge funds and other institutional investors own 18.38% of the company’s stock.
Gold Resource Company Profile
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.