Gold Resource Co. (NYSE:GORO – Get Free Report) saw a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 2,100,000 shares, a decline of 28.6% from the May 15th total of 2,940,000 shares. Based on an average trading volume of 2,330,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 2.3% of the shares of the company are short sold.
Gold Resource Stock Performance
GORO opened at $0.65 on Tuesday. Gold Resource has a one year low of $0.12 and a one year high of $0.74. The stock has a market capitalization of $88.01 million, a PE ratio of -1.32 and a beta of 0.76. The business’s 50 day moving average price is $0.54 and its 200 day moving average price is $0.42.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on GORO. Wall Street Zen began coverage on Gold Resource in a research note on Sunday, May 4th. They set a “sell” rating for the company. HC Wainwright lowered their price objective on Gold Resource from $1.75 to $1.25 and set a “buy” rating on the stock in a report on Friday, March 7th.
Institutional Trading of Gold Resource
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Gold Resource by 669.8% during the fourth quarter. Jane Street Group LLC now owns 178,903 shares of the company’s stock worth $41,000 after acquiring an additional 155,664 shares during the period. Virtu Financial LLC purchased a new position in shares of Gold Resource during the first quarter worth about $43,000. XTX Topco Ltd grew its holdings in shares of Gold Resource by 36.7% during the first quarter. XTX Topco Ltd now owns 109,984 shares of the company’s stock worth $56,000 after purchasing an additional 29,543 shares during the last quarter. Shay Capital LLC grew its holdings in shares of Gold Resource by 114.1% during the fourth quarter. Shay Capital LLC now owns 251,550 shares of the company’s stock worth $58,000 after buying an additional 134,077 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Gold Resource during the fourth quarter worth about $119,000. Hedge funds and other 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.
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