Gold Resource (NYSE:GORO) Stock Price Up 5.3% – Still a Buy?

Gold Resource Co. (NYSE:GORO)’s stock price shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $3.69 and last traded at $3.7050. 368,494 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 3,757,997 shares. The stock had previously closed at $3.52.

Gold Resource Stock Performance

The stock’s 50 day simple moving average is $2.71 and its 200 day simple moving average is $1.82. The firm has a market cap of $600.61 million, a P/E ratio of -7.57 and a beta of 1.06.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Gold Resource during the second quarter valued at approximately $13,484,000. Sei Investments Co. purchased a new stake in Gold Resource in the 1st quarter valued at $741,000. Bank of New York Mellon Corp bought a new position in Gold Resource during the 2nd quarter valued at $454,000. Bank of America Corp DE lifted its stake in Gold Resource by 12,110.2% during the 1st quarter. Bank of America Corp DE now owns 202,445 shares of the company’s stock valued at $243,000 after acquiring an additional 200,787 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Gold Resource during the 2nd quarter worth $206,000. 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.