Gold Resource (NYSE:GORO) Trading Up 0.8% – Here’s Why

Gold Resource Co. (NYSE:GORO) shares rose 0.8% on Wednesday . The company traded as high as $1.34 and last traded at $1.34. 3,015,433 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 4,047,814 shares. The stock had previously closed at $1.33.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GORO. HC Wainwright dropped their price target on Gold Resource from $2.00 to $1.75 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Zacks Research upgraded Gold Resource to a “hold” rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1.75.

Gold Resource Stock Up 2.9%

The company has a market cap of $226.65 million, a P/E ratio of -2.86 and a beta of 1.00. The business has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.29.

Institutional Investors Weigh In On Gold Resource

A number of institutional investors have recently bought and sold shares of the business. XTX Topco Ltd lifted its position in shares of Gold Resource by 47.5% in the fourth quarter. XTX Topco Ltd now owns 138,592 shares of the company’s stock valued at $115,000 after acquiring an additional 44,644 shares in the last quarter. Virtu Financial LLC raised its stake in Gold Resource by 123.1% during the 3rd quarter. Virtu Financial LLC now owns 132,471 shares of the company’s stock valued at $111,000 after purchasing an additional 73,101 shares during the period. State Street Corp raised its stake in Gold Resource by 16.8% during the 4th quarter. State Street Corp now owns 559,416 shares of the company’s stock valued at $463,000 after purchasing an additional 80,600 shares during the period. Vanguard Group Inc. lifted its holdings in Gold Resource by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,148,795 shares of the company’s stock worth $5,140,000 after purchasing an additional 91,241 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in Gold Resource in the 2nd quarter worth approximately $56,000. Hedge funds and other 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.