Gold Resource (NYSE:GORO) Reaches New 52-Week High – Time to Buy?

Gold Resource Co. (NYSE:GORO)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $4.08 and last traded at $3.9950, with a volume of 338006 shares changing hands. The stock had previously closed at $3.87.

Gold Resource Stock Up 5.8%

The firm has a market capitalization of $662.94 million, a P/E ratio of -8.35 and a beta of 1.06. The stock has a fifty day moving average of $2.26 and a 200-day moving average of $1.68.

Institutional Trading of Gold Resource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Gold Resource by 61.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,325,501 shares of the company’s stock worth $1,185,000 after purchasing an additional 881,701 shares during the period. Jane Street Group LLC lifted its stake in Gold Resource by 165.2% in 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 period. Geode Capital Management LLC boosted its holdings in shares of Gold Resource by 39.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,381,916 shares of the company’s stock worth $843,000 after buying an additional 394,028 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Gold Resource during the 2nd quarter worth approximately $56,000. Finally, Vanguard Group Inc. grew its position 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 buying an additional 91,241 shares during the period. Institutional investors and hedge funds own 18.38% of the company’s stock.

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.