Gold Resource (NYSE:GORO) Shares Gap Down – Here’s Why

Gold Resource Co. (NYSE:GORO) gapped down prior to trading on Monday . The stock had previously closed at $3.59, but opened at $3.48. Gold Resource shares last traded at $3.5810, with a volume of 250,486 shares trading hands.

Gold Resource Price Performance

The firm has a 50 day moving average price of $2.84 and a 200-day moving average price of $1.86. The firm has a market cap of $571.63 million, a price-to-earnings ratio of -7.22 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GORO. BlackRock Inc. acquired a new position in shares of Gold Resource in the 2nd quarter valued at $13,484,000. Sei Investments Co. bought a new stake in Gold Resource during the 1st quarter worth approximately $741,000. Bank of New York Mellon Corp acquired a new stake in Gold Resource during the 2nd quarter worth approximately $454,000. Bank of America Corp DE lifted its stake in Gold Resource by 12,110.2% in the first quarter. Bank of America Corp DE now owns 202,445 shares of the company’s stock valued at $243,000 after buying an additional 200,787 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Gold Resource in the second quarter valued at approximately $206,000. Institutional investors own 18.38% of the company’s stock.

Gold Resource Company Profile

Gold Resource Corporation is a mining company focused on the exploration, development, and production of gold and silver. The company’s activities include operating mines, advancing mineral projects, and evaluating additional opportunities to expand its precious-metals portfolio.

Gold Resource has historically operated in Mexico through its Don David Gold Mexico subsidiary. Its Oaxaca Mining Unit includes the Arista underground mine and related infrastructure, including processing facilities and exploration targets in the state of Oaxaca.