Shares of Gold Resource Co. (NYSE:GORO – Get Free Report) were down 8.2% during trading on Wednesday . The stock traded as low as $3.54 and last traded at $3.5540. 331,651 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 3,940,573 shares. The stock had previously closed at $3.87.
Gold Resource Stock Up 6.5%
The company’s fifty day moving average price is $2.07 and its two-hundred day moving average price is $1.62. The firm has a market cap of $613.56 million, a PE ratio of -7.73 and a beta of 1.06.
Hedge Funds Weigh In On Gold Resource
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in shares of Gold Resource during the 2nd quarter worth approximately $119,000. Ancora Advisors LLC purchased a new stake in shares of Gold Resource in the second quarter valued at approximately $38,000. Cable Car Capital LP purchased a new stake in shares of Gold Resource in the second quarter valued at approximately $46,000. The Manufacturers Life Insurance Company acquired a new position in Gold Resource during the second quarter worth $52,000. Finally, BlackRock Inc. acquired a new position in Gold Resource during the second quarter worth $13,484,000. Institutional investors and hedge funds 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.
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