Gold Resource (NYSE:GORO) Stock Price Up 1.9% – Here’s What Happened

Gold Resource Co. (NYSE:GORO)’s share price shot up 1.9% during mid-day trading on Tuesday . The stock traded as high as $1.37 and last traded at $1.3350. 1,039,948 shares were traded during trading, a decline of 76% from the average session volume of 4,345,250 shares. The stock had previously closed at $1.31.

Analyst Ratings Changes

GORO has been the topic of several research reports. Zacks Research raised shares of Gold Resource to a “hold” rating in a research note on Thursday, March 19th. HC Wainwright decreased their price target on shares of Gold Resource from $2.00 to $1.75 and set a “buy” rating on the stock in a research note on Thursday, March 19th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1.75.

Gold Resource Stock Down 5.9%

The firm has a market cap of $205.59 million, a P/E ratio of -2.59 and a beta of 1.03. The firm’s fifty day moving average is $1.37 and its two-hundred day moving average is $1.23.

Institutional Trading of Gold Resource

A number of hedge funds have recently modified their holdings of the business. Fiscal Wisdom Wealth Management LLC bought a new position in Gold Resource in the 3rd quarter worth about $39,783,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Gold Resource by 48.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,071,771 shares of the company’s stock worth $3,404,000 after buying an additional 1,323,290 shares during the last quarter. Two Sigma Investments LP raised its position in Gold Resource by 1,268.0% in the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock worth $824,000 after buying an additional 913,684 shares during the last quarter. Sei Investments Co. purchased a new position in Gold Resource in the 1st quarter worth about $741,000. Finally, Squarepoint Ops LLC purchased a new position in Gold Resource in the 3rd quarter worth about $359,000. Institutional investors own 18.38% of the company’s stock.

About Gold Resource

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.