Gold Resource Co. (NYSEAMERICAN:GORO) rose 5.2% during mid-day trading on Wednesday . The stock traded as high as $3.84 and last traded at $3.84, approximately 680,715 shares traded hands during trading. A decline of 4% from the average daily volume of 709,599 shares. The stock had previously closed at $3.65.
GORO has been the subject of a number of research reports. HC Wainwright set a $8.00 price target on shares of Gold Resource and gave the stock a “buy” rating in a report on Friday, July 19th. Zacks Investment Research raised shares of Gold Resource from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Roth Capital initiated coverage on shares of Gold Resource in a report on Tuesday, June 11th. They set a “buy” rating and a $6.50 price objective on the stock.
Gold Resource (NYSEAMERICAN:GORO) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $29.37 million during the quarter, compared to analyst estimates of $32.67 million.
In other Gold Resource news, Director Kimberly C. Perry acquired 20,000 shares of Gold Resource stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of $3.24 per share, for a total transaction of $64,800.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $64,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several institutional investors have recently modified their holdings of GORO. Dimensional Fund Advisors LP raised its holdings in shares of Gold Resource by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,842,390 shares of the basic materials company’s stock valued at $7,370,000 after purchasing an additional 109,361 shares during the last quarter. Marshall Wace LLP bought a new stake in Gold Resource in the 1st quarter worth about $1,338,000. BNP Paribas Arbitrage SA increased its stake in Gold Resource by 483.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,252 shares of the basic materials company’s stock valued at $48,000 after buying an additional 10,153 shares during the last quarter. Martingale Asset Management L P increased its stake in Gold Resource by 330.9% in the 1st quarter. Martingale Asset Management L P now owns 342,130 shares of the basic materials company’s stock valued at $1,345,000 after buying an additional 262,724 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Gold Resource in the 1st quarter valued at about $102,000.
About Gold Resource (NYSEAMERICAN:GORO)
Gold Resource Corporation explores for, develops, produces, and sells gold and silver in Mexico and the United States. It also explores for copper, lead, and zinc. The company's flagship property is the Aguila project comprising 18 mining concessions aggregating approximately 25,264 hectares located in the State of Oaxaca, Mexico.
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