StockNews.com started coverage on shares of Gold Resource (NYSE:GORO – Free Report) in a report published on Saturday. The firm issued a hold rating on the stock.
Gold Resource Stock Performance
Shares of Gold Resource stock opened at $0.48 on Friday. The company’s fifty day moving average is $0.34 and its two-hundred day moving average is $0.30. Gold Resource has a 1 year low of $0.12 and a 1 year high of $0.71. The company has a market capitalization of $45.74 million, a P/E ratio of -0.98 and a beta of 1.53.
Institutional Trading of Gold Resource
Several institutional investors and hedge funds have recently added to or reduced their stakes in GORO. The Manufacturers Life Insurance Company acquired a new position in shares of Gold Resource in the third quarter valued at approximately $110,000. Squarepoint Ops LLC purchased a new position in Gold Resource in the 4th quarter valued at $119,000. Jane Street Group LLC increased its stake in Gold Resource by 669.8% in the 4th 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 period. Finally, Shay Capital LLC raised its position 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 buying an additional 134,077 shares during the last quarter. 18.38% of the stock is owned by hedge funds and other institutional investors.
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.
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