Gold Resource (NYSE:GORO) Hits New 12-Month High – Here’s Why

Gold Resource Co. (NYSE:GORO) reached a new 52-week high during trading on Monday . The company traded as high as $4.00 and last traded at $3.1540, with a volume of 4449522 shares traded. The stock had previously closed at $0.9975.

Gold Resource Trading Up 214.3%

The stock has a fifty day moving average of $1.28 and a two-hundred day moving average of $1.34. The stock has a market capitalization of $507.53 million, a price-to-earnings ratio of -6.38 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GORO. Vanguard Group Inc. lifted its position in Gold Resource by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,148,795 shares of the company’s stock worth $5,140,000 after buying an additional 91,241 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Gold Resource by 48.1% in 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 acquiring an additional 1,323,290 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Gold Resource by 39.9% in the second quarter. Geode Capital Management LLC now owns 1,381,916 shares of the company’s stock worth $843,000 after acquiring an additional 394,028 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Gold Resource by 1,268.0% in the third quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock worth $824,000 after acquiring an additional 913,684 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Gold Resource during the first quarter worth approximately $741,000. 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.