Gold Resource (NYSE:GORO) Trading Down 3.1% - Time to Sell?

Key Points

• Gold Resource Co. (NYSE:GORO) experienced a 3.1% decline in its stock price, trading as low as $0.49 before closing at $0.50 on Thursday.
• Analysts have mixed opinions on GORO, with Wall Street Zen issuing a "sell" rating while HC Wainwright raised their price target and gave it a "buy" rating.
• Institutional investors have shown increased interest, with Jane Street Group boosting its stake by 669.8% during the last quarter, reflecting growing confidence in the company's prospects.

Shares of Gold Resource Co. (NYSE:GORO - Get Free Report) dropped 3.1% during mid-day trading on Thursday . The company traded as low as $0.49 and last traded at $0.50. Approximately 1,653,733 shares changed hands during trading, a decline of 38% from the average daily volume of 2,662,456 shares. The stock had previously closed at $0.51.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GORO. HC Wainwright boosted their price objective on shares of Gold Resource from $1.25 to $1.50 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wall Street Zen started coverage on Gold Resource in a research note on Sunday, May 4th. They set a "sell" rating on the stock.

Gold Resource Stock Up 0.1%

The company has a market capitalization of $67.82 million, a P/E ratio of -1.01 and a beta of 0.76. The firm has a fifty day simple moving average of $0.60 and a 200-day simple moving average of $0.52.

Hedge Funds Weigh In On Gold Resource

Several hedge funds have recently modified their holdings of GORO. Geode Capital Management LLC increased its holdings in shares of Gold Resource by 39.9% in the second quarter. Geode Capital Management LLC now owns 1,381,916 shares of the company's stock valued at $843,000 after purchasing an additional 394,028 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Gold Resource by 165.2% during the 1st quarter. Jane Street Group LLC now owns 474,468 shares of the company's stock worth $242,000 after buying an additional 295,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Gold Resource by 61.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,325,501 shares of the company's stock worth $1,185,000 after buying an additional 881,701 shares during the period. Virtu Financial LLC acquired a new position in Gold Resource in the 1st quarter valued at about $43,000. Finally, XTX Topco Ltd raised its holdings in Gold Resource by 36.7% in the 1st quarter. XTX Topco Ltd now owns 109,984 shares of the company's stock valued at $56,000 after acquiring an additional 29,543 shares during the period. Institutional investors own 18.38% of the company's stock.

About Gold Resource

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.