Gold Resource (NYSE:GORO) Trading 11% Higher – Should You Buy?

Gold Resource Co. (NYSE:GORO)’s share price rose 11% during trading on Thursday . The company traded as high as $3.14 and last traded at $3.14. 1,140,603 shares changed hands during trading, a decline of 71% from the average daily volume of 3,984,602 shares. The stock had previously closed at $2.83.

Gold Resource Stock Up 6.3%

The stock has a 50-day moving average of $1.88 and a 200 day moving average of $1.56. The stock has a market cap of $516.43 million, a PE ratio of -6.51 and a beta of 1.06.

Institutional Trading of Gold Resource

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ancora Advisors LLC purchased a new position in shares of Gold Resource during the second quarter worth $38,000. Cable Car Capital LP purchased a new stake in Gold Resource in the second quarter valued at $46,000. The Manufacturers Life Insurance Company purchased a new stake in Gold Resource in the second quarter valued at $52,000. XTX Topco Ltd grew its position in Gold Resource by 47.5% during the 4th quarter. XTX Topco Ltd now owns 138,592 shares of the company’s stock worth $115,000 after purchasing an additional 44,644 shares during the period. Finally, Virtu Financial LLC grew its position in Gold Resource by 123.1% during the 3rd quarter. Virtu Financial LLC now owns 132,471 shares of the company’s stock worth $111,000 after purchasing an additional 73,101 shares during the period. Institutional investors and hedge funds 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.