Gold Resource Co. (NYSE:GORO – Get Free Report)’s stock price shot up 4.4% on Friday. The company traded as high as $3.44 and last traded at $3.4750. 194,782 shares were traded during trading, a decline of 94% from the average daily volume of 3,491,878 shares. The stock had previously closed at $3.33.
Gold Resource Stock Up 2.0%
The stock has a market cap of $549.62 million, a price-to-earnings ratio of -6.93 and a beta of 1.06. The firm’s 50 day moving average is $3.37 and its two-hundred day moving average is $2.14.
Institutional Investors Weigh In On Gold Resource
Hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in shares of Gold Resource during the second quarter valued at $38,000. Cable Car Capital LP bought a new stake in Gold Resource in the 2nd quarter valued at about $46,000. The Manufacturers Life Insurance Company bought a new stake in Gold Resource in the 2nd quarter valued at about $52,000. Bank of America Corp DE acquired a new position in Gold Resource during the 2nd quarter valued at about $119,000. Finally, Deutsche Bank AG acquired a new position in Gold Resource during the 2nd quarter valued at about $206,000. 18.38% of the stock is currently owned by institutional investors.
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.
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