Gold Resource (NYSE:GORO) Shares Down 3.5% – Time to Sell?

Shares of Gold Resource Co. (NYSE:GORO) dropped 3.5% on Thursday . The stock traded as low as $1.36 and last traded at $1.39. Approximately 1,195,905 shares changed hands during trading, a decline of 84% from the average daily volume of 7,300,962 shares. The stock had previously closed at $1.44.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $2.00 price objective on shares of Gold Resource in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $2.00.

Gold Resource Price Performance

The business’s fifty day moving average price is $1.41 and its 200-day moving average price is $0.99. The stock has a market capitalization of $224.85 million, a PE ratio of -2.84 and a beta of 0.81.

Hedge Funds Weigh In On Gold Resource

A number of large investors have recently modified their holdings of GORO. Fiscal Wisdom Wealth Management LLC bought a new stake in Gold Resource in the 3rd quarter worth approximately $39,783,000. Vanguard Group Inc. raised its stake in shares of Gold Resource by 1.5% during the third 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Gold Resource by 48.1% during the third 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 lifted its holdings in shares of Gold Resource by 1,268.0% in the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock worth $824,000 after acquiring an additional 913,684 shares during the last quarter. 18.38% of the stock is owned by hedge funds and other institutional investors.

About Gold Resource

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.