Gold Resource (NYSE:GORO) Hits New 12-Month High – Here’s Why

Shares of Gold Resource Co. (NYSE:GORO) reached a new 52-week high on Monday . The company traded as high as $4.00 and last traded at $3.1540, with a volume of 4449522 shares. The stock had previously closed at $0.9975.

Gold Resource Trading Up 214.3%

The firm has a fifty day simple moving average of $1.28 and a 200 day simple moving average of $1.34. The stock has a market cap of $507.53 million, a price-to-earnings ratio of -6.38 and a beta of 1.02.

Hedge Funds Weigh In On Gold Resource

A number of hedge funds have recently made changes to their positions in GORO. XTX Topco Ltd increased its position in shares of Gold Resource by 47.5% during the 4th quarter. XTX Topco Ltd now owns 138,592 shares of the company’s stock worth $115,000 after purchasing an additional 44,644 shares in the last quarter. Virtu Financial LLC boosted its position in Gold Resource by 123.1% in 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 in the last quarter. State Street Corp grew its stake in Gold Resource by 16.8% during the fourth quarter. State Street Corp now owns 559,416 shares of the company’s stock worth $463,000 after buying an additional 80,600 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Gold Resource by 1.5% during the third quarter. Vanguard Group Inc. now owns 6,148,795 shares of the company’s stock worth $5,140,000 after buying an additional 91,241 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Gold Resource during the second quarter worth approximately $56,000. Institutional investors and hedge funds own 18.38% of the company’s stock.

About Gold Resource

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.