Gold Resource (NYSE:GORO) Trading Up 1.9% – Time to Buy?

Gold Resource Co. (NYSE:GORO)’s stock price traded up 1.9% during mid-day trading on Tuesday . The stock traded as high as $1.37 and last traded at $1.3350. 1,039,948 shares were traded during trading, a decline of 76% from the average session volume of 4,345,250 shares. The stock had previously closed at $1.31.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Zacks Research upgraded Gold Resource to a “hold” rating in a research report on Thursday, March 19th. HC Wainwright cut their target price on Gold Resource from $2.00 to $1.75 and set a “buy” rating for the company in a research report on Thursday, March 19th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1.75.

Gold Resource Price Performance

The firm has a 50-day moving average of $1.35 and a 200-day moving average of $1.22. The stock has a market cap of $216.11 million, a PE ratio of -2.72 and a beta of 1.03.

Hedge Funds Weigh In On Gold Resource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in Gold Resource during the second quarter valued at approximately $56,000. Alps Advisors Inc. bought a new position in Gold Resource during the fourth quarter valued at approximately $105,000. Virtu Financial LLC boosted its stake in Gold Resource by 123.1% during the third quarter. Virtu Financial LLC now owns 132,471 shares of the company’s stock valued at $111,000 after buying an additional 73,101 shares during the last quarter. XTX Topco Ltd boosted its stake in Gold Resource by 47.5% during the fourth quarter. XTX Topco Ltd now owns 138,592 shares of the company’s stock valued at $115,000 after buying an additional 44,644 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Gold Resource by 165.2% during the first 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 during the last quarter. 18.38% of the stock is owned by institutional investors.

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.