Gold Resource Co. (GORO) Sees Significant Decline in Short Interest

Gold Resource Co. (NYSEAMERICAN:GORO) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,370,337 shares, a decline of 1.4% from the October 15th total of 1,389,535 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 472,538 shares, the short-interest ratio is currently 2.9 days.

Shares of NYSEAMERICAN:GORO opened at $4.10 on Friday. Gold Resource has a 1-year low of $3.66 and a 1-year high of $7.33.

Gold Resource (NYSEAMERICAN:GORO) last announced its quarterly earnings results on Tuesday, October 30th. The basic materials company reported ($0.01) EPS for the quarter. The company had revenue of $24.26 million during the quarter.

The business also recently declared a monthly dividend, which will be paid on Friday, November 23rd. Investors of record on Monday, November 12th will be paid a $0.0017 dividend. This represents a $0.02 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, November 8th.

In other Gold Resource news, COO Richard M. Irvine sold 20,000 shares of Gold Resource stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $5.00, for a total value of $100,000.00. Following the transaction, the chief operating officer now directly owns 51,244 shares of the company’s stock, valued at approximately $256,220. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY acquired a new stake in Gold Resource in the 2nd quarter valued at $122,000. Prudential Financial Inc. acquired a new stake in Gold Resource in the 3rd quarter valued at $116,000. MetLife Investment Advisors LLC acquired a new stake in Gold Resource in the 2nd quarter valued at $174,000. Bessemer Group Inc. acquired a new stake in Gold Resource in the 2nd quarter valued at $211,000. Finally, Engineers Gate Manager LP boosted its stake in Gold Resource by 68.3% in the 2nd quarter. Engineers Gate Manager LP now owns 38,630 shares of the basic materials company’s stock valued at $255,000 after buying an additional 15,681 shares in the last quarter.

Separately, TheStreet lowered Gold Resource from a “b-” rating to a “c+” rating in a report on Thursday, August 16th.

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Gold Resource Company Profile

Gold Resource Corporation explores for, develops, produces, and sells gold and silver in Mexico and the United States. It also explores for copper, lead, and zinc. The company's flagship property is the El Aguila project comprising 19 mining concessions aggregating approximately 30,215 hectares located in the State of Oaxaca.

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