Gold Resource (NYSE:GORO) Stock Price Up 8% – Still a Buy?

Gold Resource Co. (NYSE:GORO)’s stock price rose 8% on Thursday . The company traded as high as $3.80 and last traded at $3.8450. 322,092 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 3,930,093 shares. The stock had previously closed at $3.56.

Gold Resource Price Performance

The company has a 50 day simple moving average of $2.12 and a 200-day simple moving average of $1.64. The firm has a market cap of $590.90 million, a PE ratio of -7.45 and a beta of 1.06.

Institutional Trading of Gold Resource

Several hedge funds have recently added to or reduced their stakes in GORO. BlackRock Inc. purchased a new stake in Gold Resource during the second quarter valued at about $13,484,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Gold Resource by 48.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,071,771 shares of the company’s stock worth $3,404,000 after buying an additional 1,323,290 shares during the period. Two Sigma Investments LP lifted its stake in shares of Gold Resource by 1,268.0% in the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock valued at $824,000 after acquiring an additional 913,684 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Gold Resource in the 1st quarter valued at about $741,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Gold Resource in the 3rd quarter valued at about $359,000. 18.38% of the stock is owned by institutional investors.

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.