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

Gold Resource Co. (NYSE:GORO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $3.59, but opened at $3.48. Gold Resource shares last traded at $3.5810, with a volume of 250,486 shares trading hands.

Gold Resource Trading Down 1.6%

The firm’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $1.86. The company has a market capitalization of $571.63 million, a P/E ratio of -7.22 and a beta of 1.06.

Institutional Trading of Gold Resource

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in Gold Resource in the second quarter valued at approximately $119,000. Ancora Advisors LLC acquired a new stake in Gold Resource during the second quarter worth approximately $38,000. Cable Car Capital LP bought a new position in Gold Resource in the 2nd quarter valued at about $46,000. The Manufacturers Life Insurance Company bought a new stake in shares of Gold Resource during the 2nd quarter worth $52,000. Finally, BlackRock Inc. acquired a new stake in Gold Resource in the second quarter valued at approximately $13,484,000. 18.38% of the stock is owned by institutional investors.

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.