Gold Resource (NYSE:GORO) Trading 0.8% Higher – Time to Buy?

Shares of Gold Resource Co. (NYSE:GORO) shot up 0.8% during trading on Wednesday . The stock traded as high as $1.34 and last traded at $1.34. Approximately 3,015,433 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 4,047,814 shares. The stock had previously closed at $1.33.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GORO shares. HC Wainwright cut their target price on Gold Resource from $2.00 to $1.75 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Zacks Research raised Gold Resource to a “hold” rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1.75.

Gold Resource Stock Up 0.8%

The company’s 50-day moving average price is $1.37 and its 200-day moving average price is $1.29. The firm has a market cap of $216.92 million, a price-to-earnings ratio of -2.73 and a beta of 1.00.

Institutional Investors Weigh In On Gold Resource

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Gold Resource by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,148,795 shares of the company’s stock valued at $5,140,000 after buying an additional 91,241 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Gold Resource by 48.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,071,771 shares of the company’s stock worth $3,404,000 after acquiring an additional 1,323,290 shares during the period. Geode Capital Management LLC increased its position in shares of Gold Resource by 39.9% during the second quarter. Geode Capital Management LLC now owns 1,381,916 shares of the company’s stock worth $843,000 after acquiring an additional 394,028 shares during the period. Two Sigma Investments LP raised its stake in shares of Gold Resource by 1,268.0% in the third quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock valued at $824,000 after acquiring an additional 913,684 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Gold Resource in the first quarter valued at $741,000. 18.38% of the stock is currently owned by institutional investors and hedge funds.

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.