Gold Resource Co. (NYSE:GORO) Short Interest Down 28.6% in May

Gold Resource Co. (NYSE:GORO) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 2,100,000 shares, a drop of 28.6% from the May 15th total of 2,940,000 shares. Based on an average trading volume of 2,330,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 2.3% of the shares of the company are short sold.

Gold Resource Stock Performance

GORO stock opened at $0.65 on Tuesday. The company has a market capitalization of $88.01 million, a price-to-earnings ratio of -1.32 and a beta of 0.76. The business’s 50 day moving average price is $0.54 and its two-hundred day moving average price is $0.42. Gold Resource has a fifty-two week low of $0.12 and a fifty-two week high of $0.74.

Institutional Trading of Gold Resource

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its stake in Gold Resource by 669.8% during the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock valued at $41,000 after buying an additional 155,664 shares during the last quarter. Virtu Financial LLC purchased a new position in Gold Resource during the 1st quarter worth $43,000. XTX Topco Ltd increased its holdings in Gold Resource by 36.7% during the 1st quarter. XTX Topco Ltd now owns 109,984 shares of the company’s stock worth $56,000 after purchasing an additional 29,543 shares during the period. Shay Capital LLC increased its holdings in Gold Resource by 114.1% during the 4th quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock worth $58,000 after purchasing an additional 134,077 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Gold Resource during the 4th quarter valued at $119,000. Hedge funds and other institutional investors own 18.38% of the company’s stock.

Analyst Upgrades and Downgrades

GORO has been the subject of several recent research reports. HC Wainwright reduced their price target on Gold Resource from $1.75 to $1.25 and set a “buy” rating for the company in a research report on Friday, March 7th. Wall Street Zen initiated coverage on Gold Resource in a research note on Sunday, May 4th. They set a “sell” rating for the company.

Gold Resource Company Profile

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