Gold Resource (NYSE:GORO) Stock Price Down 5.5% – Here’s What Happened

Gold Resource Co. (NYSE:GORO) shares dropped 5.5% during mid-day trading on Tuesday. The company traded as low as $3.18 and last traded at $3.1750. 969,488 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,653,688 shares. The stock had previously closed at $3.36.

Gold Resource Trading Down 5.3%

The company’s 50 day moving average price is $3.08 and its two-hundred day moving average price is $1.95. The firm has a market cap of $515.13 million, a PE ratio of -6.48 and a beta of 1.06.

Hedge Funds Weigh In On Gold Resource

Several hedge funds have recently modified their holdings of GORO. Ancora Advisors LLC bought a new position in shares of Gold Resource during the 2nd quarter valued at approximately $38,000. Cable Car Capital LP purchased a new stake in Gold Resource during the second quarter valued at $46,000. The Manufacturers Life Insurance Company bought a new position in Gold Resource during the second quarter valued at $52,000. Bank of America Corp DE purchased a new position in shares of Gold Resource in the 2nd quarter worth $119,000. Finally, Deutsche Bank AG purchased a new position in shares of Gold Resource in the 2nd quarter worth $206,000. Hedge funds and other institutional investors own 18.38% of the company’s stock.

Gold Resource Company Profile

Gold Resource Corporation is a mining company focused on the exploration, development, and production of gold and silver. The company’s activities include operating mines, advancing mineral projects, and evaluating additional opportunities to expand its precious-metals portfolio.

Gold Resource has historically operated in Mexico through its Don David Gold Mexico subsidiary. Its Oaxaca Mining Unit includes the Arista underground mine and related infrastructure, including processing facilities and exploration targets in the state of Oaxaca.