Gold Resource (NYSE:GORO) Shares Down 30.4% - Time to Sell?

Key Points

• Gold Resource shares plunged 30.4% in mid-day trading, dropping from a prior close of $1.33 to as low as $0.9013 before last trading near $0.9254.
• Trading volume surged to more than 25.6 million shares, about 526% above the stock’s average daily volume, signaling unusually heavy investor activity.
• Analyst sentiment remains mixed: HC Wainwright cut its price target to $1.75 but kept a buy rating, while Zacks upgraded the stock to hold; the consensus rating is still Moderate Buy.

Gold Resource Co. (NYSE:GORO - Get Free Report) fell 30.4% during mid-day trading on Thursday . The company traded as low as $0.9013 and last traded at $0.9254. Approximately 25,653,365 shares changed hands during mid-day trading, an increase of 526% from the average daily volume of 4,099,073 shares. The stock had previously closed at $1.33.

Analyst Upgrades and Downgrades

GORO has been the topic of several research reports. HC Wainwright reduced their price objective on Gold Resource from $2.00 to $1.75 and set a "buy" rating on the stock in a report on Thursday, March 19th. Zacks Research upgraded Gold Resource to a "hold" rating in a report on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1.75.

Gold Resource Trading Down 30.4%

The firm has a market cap of $149.81 million, a PE ratio of -1.89 and a beta of 1.02. The business's 50-day simple moving average is $1.28 and its 200 day simple moving average is $1.33.

Institutional Trading of Gold Resource

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Gold Resource by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,148,795 shares of the company's stock valued at $5,140,000 after acquiring an additional 91,241 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Gold Resource by 48.1% in the 3rd 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 raised its position 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 in the last quarter. Two Sigma Investments LP lifted its stake in shares of Gold Resource by 1,268.0% during the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company's stock worth $824,000 after purchasing an additional 913,684 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Gold Resource during the 1st quarter worth $741,000. 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.

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