Gold Resource Co. (NYSEAMERICAN:GORO) Sees Large Growth in Short Interest

Gold Resource Co. (NYSEAMERICAN:GOROGet Free Report) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 337,000 shares, a growth of 61.0% from the January 15th total of 209,300 shares. Based on an average daily volume of 634,500 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com assumed coverage on Gold Resource in a report on Tuesday. They issued a “sell” rating on the stock. HC Wainwright dropped their price objective on Gold Resource from $3.25 to $1.75 and set a “buy” rating on the stock in a report on Tuesday, November 7th.

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Hedge Funds Weigh In On Gold Resource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Gold Resource by 57.9% during the 1st quarter. JPMorgan Chase & Co. now owns 76,359 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 27,989 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Gold Resource by 59.1% during the 1st quarter. Bank of New York Mellon Corp now owns 282,877 shares of the basic materials company’s stock valued at $634,000 after acquiring an additional 105,048 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Gold Resource by 22.6% during the 1st quarter. Vanguard Group Inc. now owns 4,054,741 shares of the basic materials company’s stock valued at $9,083,000 after acquiring an additional 746,896 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Gold Resource by 89.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 48,406 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 22,830 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Gold Resource by 11.3% during the 1st quarter. Northern Trust Corp now owns 190,511 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 19,296 shares during the last quarter. 22.61% of the stock is owned by institutional investors.

Gold Resource Stock Performance

Shares of GORO opened at $0.26 on Tuesday. Gold Resource has a 12 month low of $0.22 and a 12 month high of $1.49. The stock has a market cap of $22.95 million, a price-to-earnings ratio of -1.44 and a beta of 1.52.

About Gold Resource

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Gold Resource Corporation engages in the exploration, development, and production of gold and silver projects in Mexico and the United States. The company explores for copper, lead, and zinc deposits. Its principal asset is the 100% owned Back Forty project covering approximately 1,304 hectares located in Menominee county, Michigan.

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