Gold Resource (NYSE:GORO) Hits New 1-Year High – Here’s Why

Gold Resource Co. (NYSE:GORO) reached a new 52-week high on Thursday . The stock traded as high as $4.08 and last traded at $3.9950, with a volume of 338006 shares changing hands. The stock had previously closed at $3.87.

Gold Resource Price Performance

The business has a 50-day simple moving average of $2.37 and a 200 day simple moving average of $1.71. The firm has a market cap of $671.84 million, a PE ratio of -8.47 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Gold Resource in the second quarter valued at about $13,484,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Gold Resource by 48.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,071,771 shares of the company’s stock valued at $3,404,000 after buying an additional 1,323,290 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Gold Resource by 1,268.0% during the third quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock valued at $824,000 after buying an additional 913,684 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Gold Resource during the first quarter valued at approximately $741,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Gold Resource in the third quarter worth $359,000. 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.