Bank of New York Mellon Corp Raises Stake in Gold Resource Co. (GORO)
Bank of New York Mellon Corp increased its stake in Gold Resource Co. (NYSEMKT:GORO) by 32.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 524,199 shares of the company’s stock after buying an additional 129,553 shares during the period. Bank of New York Mellon Corp owned 0.97% of Gold Resource worth $1,881,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Gold Resource by 11.0% in the first quarter. Geode Capital Management LLC now owns 325,087 shares of the company’s stock worth $756,000 after buying an additional 32,236 shares during the period. Spark Investment Management LLC boosted its stake in Gold Resource by 64.9% in the first quarter. Spark Investment Management LLC now owns 236,000 shares of the company’s stock worth $549,000 after buying an additional 92,900 shares during the period. Finally, Strs Ohio acquired a new stake in Gold Resource during the second quarter worth about $650,000.
Shares of Gold Resource Co. (NYSEMKT:GORO) traded down 3.10% during trading on Friday, reaching $5.32. 1,761,330 shares of the company were exchanged. Gold Resource Co. has a one year low of $1.14 and a one year high of $8.22. The stock has a market capitalization of $288.70 million, a price-to-earnings ratio of 80.61 and a beta of 1.15. The company has a 50 day moving average price of $6.27 and a 200-day moving average price of $4.46.
The firm also recently announced a monthly dividend, which will be paid on Monday, October 24th. Investors of record on Tuesday, October 11th will be paid a dividend of $0.0017 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.02 dividend on an annualized basis and a yield of 0.37%. Gold Resource’s payout ratio is 33.33%.
Separately, Zacks Investment Research upgraded shares of Gold Resource from a “sell” rating to a “hold” rating in a research note on Monday, July 18th.
In other news, CFO John A. Labate sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $6.09, for a total transaction of $304,500.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $304,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Richard M. Irvine sold 34,666 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $5.90, for a total value of $204,529.40. Following the completion of the sale, the chief operating officer now directly owns 48,666 shares of the company’s stock, valued at approximately $287,129.40. The disclosure for this sale can be found here.
About Gold Resource
Gold Resource Corporation is a producer of metal concentrates that contain gold, silver, copper, lead and zinc, and dore containing gold and silver at the Aguila Project in the southern state of Oaxaca, Mexico (Oaxaca). The Company has two units in North America, the Oaxaca Mining Unit and the Nevada Mining Unit.
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