Gold Resource (NYSE:GORO) Shares Down 2.4% – Here’s What Happened

Gold Resource Co. (NYSE:GORO)’s share price dropped 2.4% on Monday . The company traded as low as $2.36 and last traded at $2.47. Approximately 1,381,048 shares traded hands during trading, a decline of 67% from the average daily volume of 4,137,876 shares. The stock had previously closed at $2.53.

Gold Resource Stock Performance

The company’s 50 day moving average price is $1.60 and its 200-day moving average price is $1.48. The company has a market cap of $399.87 million, a PE ratio of -5.04 and a beta of 1.06.

Institutional Trading of Gold Resource

A number of large investors have recently bought and sold shares of GORO. BlackRock Inc. bought a new stake in shares of Gold Resource in the second quarter valued at $13,484,000. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 91,241 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $3,404,000 after acquiring an additional 1,323,290 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 acquiring an additional 394,028 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Gold Resource by 1,268.0% in the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock valued at $824,000 after acquiring an additional 913,684 shares during the period. 18.38% of the stock is owned by hedge funds and other 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.