Gold Resource Sees Unusually Large Options Volume (NYSE:GORO)

Gold Resource Co. (NYSE:GORO) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 6,718 call options on the stock. This represents an increase of approximately 706% compared to the typical volume of 834 call options.

Hedge Funds Weigh In On Gold Resource

Several hedge funds have recently added to or reduced their stakes in GORO. Virtu Financial LLC lifted its holdings in shares of 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 purchasing an additional 73,101 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Gold Resource by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,148,795 shares of the company’s stock worth $5,140,000 after purchasing an additional 91,241 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Gold Resource during the 2nd quarter worth approximately $56,000. Jane Street Group LLC lifted its stake in Gold Resource by 165.2% in the 1st quarter. Jane Street Group LLC now owns 474,468 shares of the company’s stock valued at $242,000 after buying an additional 295,565 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Gold Resource by 39.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,381,916 shares of the company’s stock valued at $843,000 after buying an additional 394,028 shares during the last quarter. 18.38% of the stock is currently owned by hedge funds and other institutional investors.

Gold Resource Stock Performance

Gold Resource stock opened at $1.39 on Friday. Gold Resource has a fifty-two week low of $0.29 and a fifty-two week high of $1.85. The firm has a market capitalization of $224.85 million, a price-to-earnings ratio of -2.84 and a beta of 0.82. The stock’s fifty day moving average is $0.89 and its two-hundred day moving average is $0.75.

Analyst Ratings Changes

Separately, HC Wainwright boosted their target price on shares of Gold Resource from $1.25 to $2.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $2.00.

Gold Resource Company Profile

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.