Gold Resource (NYSE:GORO) Trading Down 1.7% - Time to Sell?

Key Points

• Gold Resource Co. shares experienced a 1.7% decline during mid-day trading, reaching a low of $0.77 before closing at $0.81.
• Wall Street analysts have raised the company’s price target from $1.25 to $1.50 and have issued a "buy" rating for the stock.
• Institutional ownership of Gold Resource is at 18.38%, with significant stakes acquired by firms like MIRAE ASSET GLOBAL and Jane Street Group.

Gold Resource Co. (NYSE:GORO - Get Free Report) shares dropped 1.7% during mid-day trading on Monday . The company traded as low as $0.77 and last traded at $0.81. Approximately 1,646,661 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 2,625,263 shares. The stock had previously closed at $0.82.

Analysts Set New Price Targets

Separately, HC Wainwright lifted their price objective on Gold Resource from $1.25 to $1.50 and gave the stock a "buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gold Resource presently has an average rating of "Buy" and a consensus target price of $1.50.

Gold Resource Stock Up 9.5%

The firm has a market capitalization of $108.95 million, a P/E ratio of -1.63 and a beta of 0.83. The stock has a fifty day moving average of $0.57 and a 200-day moving average of $0.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GORO. Jane Street Group LLC boosted its position in Gold Resource by 669.8% during the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company's stock valued at $41,000 after purchasing an additional 155,664 shares during the last quarter. Virtu Financial LLC acquired a new position in Gold Resource during the first quarter valued at approximately $43,000. Captrust Financial Advisors acquired a new position in Gold Resource during the second quarter valued at approximately $56,000. XTX Topco Ltd lifted its position in shares of Gold Resource by 36.7% in the first quarter. XTX Topco Ltd now owns 109,984 shares of the company's stock valued at $56,000 after buying an additional 29,543 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Gold Resource in the fourth quarter valued at approximately $119,000. 18.38% of the stock is owned by institutional investors and hedge funds.

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.