Gold Resource Co. (NYSE:GORO – Get Free Report)’s share price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $3.40 and traded as high as $3.49. Gold Resource shares last traded at $3.48, with a volume of 935,855 shares changing hands.
Gold Resource Price Performance
The stock has a market cap of $563.38 million, a price-to-earnings ratio of -7.10 and a beta of 1.06. The business’s 50-day simple moving average is $3.40 and its two-hundred day simple moving average is $2.09.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in GORO. BlackRock Inc. bought a new position in shares of Gold Resource during the 2nd quarter worth approximately $13,484,000. Sei Investments Co. acquired a new stake in shares of Gold Resource in the 1st quarter worth about $741,000. Bank of New York Mellon Corp bought a new stake in Gold Resource during the second quarter worth $454,000. Bank of America Corp DE grew its stake in shares of Gold Resource by 12,110.2% in the 1st quarter. Bank of America Corp DE now owns 202,445 shares of the company’s stock worth $243,000 after acquiring an additional 200,787 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Gold Resource in the second quarter valued at about $206,000. 18.38% of the stock is owned by institutional investors and hedge funds.
Gold Resource Company Profile
Gold Resource Corporation is a U.S.-based mining company involved in the exploration, development and production of precious and base metals. Its activities have included gold and silver mining, as well as exploration for deposits containing metals such as copper and zinc. The company historically operated the Don David Gold Mine in Oaxaca, Mexico. Its portfolio has also included the Back Forty project in Michigan, a polymetallic deposit being developed for its gold, silver, copper and zinc resources.
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