Gold Resource (NYSE:GORO) Shares Down 30.4% – Here’s Why

Gold Resource Co. (NYSE:GORO) shares dropped 30.4% on Thursday . The company traded as low as $0.9013 and last traded at $0.9254. 25,653,365 shares were traded during trading, an increase of 526% from the average session volume of 4,099,073 shares. The stock had previously closed at $1.33.

Gold Resource Stock Up 7.8%

The company has a market cap of $161.49 million, a PE ratio of -2.04 and a beta of 1.02. The firm’s 50-day moving average is $1.28 and its 200-day moving average is $1.33.

Institutional Investors Weigh In On Gold Resource

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Gold Resource by 48.1% during 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 acquiring an additional 1,323,290 shares in the last quarter. Two Sigma Investments LP increased its stake 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 purchasing an additional 913,684 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Gold Resource during the first quarter valued at approximately $741,000. Squarepoint Ops LLC purchased a new position in shares of Gold Resource during the third quarter valued at approximately $359,000. Finally, Geode Capital Management LLC boosted its position in shares of Gold Resource by 39.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,381,916 shares of the company’s stock worth $843,000 after purchasing an additional 394,028 shares in the last quarter. 18.38% of the stock is currently 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.