Gold Resource (NYSE:GORO) Shares Down 5.1% – Here’s What Happened

Shares of Gold Resource Co. (NYSE:GORO) dropped 5.1% during mid-day trading on Tuesday. The company traded as low as $3.32 and last traded at $3.2550. 80,158 shares changed hands during trading, a decline of 98% from the average session volume of 3,524,096 shares. The stock had previously closed at $3.43.

Gold Resource Trading Down 4.5%

The stock has a market cap of $521.29 million, a price-to-earnings ratio of -6.57 and a beta of 1.06. The stock’s 50-day simple moving average is $3.34 and its 200-day simple moving average is $2.13.

Institutional Trading of Gold Resource

Institutional investors and hedge funds have recently made changes to their positions in the company. Ancora Advisors LLC purchased a new stake in Gold Resource in the 2nd quarter worth approximately $38,000. Cable Car Capital LP purchased a new stake in shares of Gold Resource in the 2nd quarter worth approximately $46,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Gold Resource during the second quarter valued at approximately $52,000. Bank of America Corp DE bought a new position in Gold Resource during the second quarter valued at approximately $119,000. Finally, Deutsche Bank AG bought a new position in Gold Resource in the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 18.38% of the company’s stock.

About Gold Resource

Gold Resource Corporation is a precious metals exploration, development and production company focused primarily on gold and silver assets in Mexico. The company’s principal operation is the Don David Gold Mine in the state of Oaxaca, which includes underground and open-pit mining areas and produces gold and silver concentrates and doré.

Don David Gold’s operations are centered on the high-grade Arista underground mine and other deposits within the company’s Oaxaca Mining Unit. Gold Resource also conducts exploration and resource-development activities across its Mexican land package to identify additional mineralized zones and extend the life of its operations.

Gold Resource was established in 1998 and historically held a broader portfolio of precious metals properties in Mexico and the United States.