Gold Resource (NYSE:GORO) Shares Down 2.4% – Here’s Why

Shares of Gold Resource Co. (NYSE:GORO) were down 2.4% during mid-day trading on Monday . The company traded as low as $2.36 and last traded at $2.47. Approximately 1,381,048 shares traded hands during trading, a decline of 67% from the average session volume of 4,137,876 shares. The stock had previously closed at $2.53.

Gold Resource Trading Up 14.8%

The stock has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $1.49. The stock has a market cap of $453.29 million, a price-to-earnings ratio of -5.71 and a beta of 1.06.

Institutional Investors Weigh In On Gold Resource

Large investors have recently modified their holdings of the business. Captrust Financial Advisors purchased a new position in shares of Gold Resource in the 2nd quarter valued at approximately $56,000. Alps Advisors Inc. acquired a new stake in shares of Gold Resource during the fourth quarter worth $105,000. Virtu Financial LLC grew its holdings in shares of Gold Resource by 123.1% during the third quarter. Virtu Financial LLC now owns 132,471 shares of the company’s stock valued at $111,000 after buying an additional 73,101 shares during the last quarter. XTX Topco Ltd increased its position in shares of Gold Resource by 47.5% in the 4th quarter. XTX Topco Ltd now owns 138,592 shares of the company’s stock valued at $115,000 after acquiring an additional 44,644 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of Gold Resource in the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 18.38% of the company’s stock.

Gold Resource Company Profile

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.