Price Action Report: Could Gold Resource Corporation Change Direction After Today’s Huge Decline?

Price Action Report: Could Gold Resource Corporation Change Direction After Today's Huge Decline?

The stock of Gold Resource Corporation (NYSEMKT:GORO) is a huge mover today! The stock decreased 6.21% or $0.28 on November 23, hitting $4.23. About 900,716 shares traded hands. Gold Resource Corporation (NYSEMKT:GORO) has risen 41.47% since April 22, 2016 and is uptrending. It has outperformed by 36.06% the S&P500.
The move comes after 6 months negative chart setup for the $241.42 million company. It was reported on Nov, 24 by Barchart.com. We have $3.98 PT which if reached, will make NYSEMKT:GORO worth $14.49 million less.

Analysts await Gold Resource Corporation (NYSEMKT:GORO) to report earnings on March, 8.

According to Zacks Investment Research, “Gold Resource Corporation is a mining company focused on production and pursuing development of select, high-grade gold and silver projects that feature low operation costs and produce high returns on capital. The Company has 100% interest in four potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. The Company has an interest in four properties, the El Aguila property, the Las Margaritas property, the El Rey property and the Solaga property. All of these properties are in the exploration stage and have no probable reserves. The company is based in Denver, Colorado.”

Insitutional Activity: The institutional sentiment decreased to 1.21 in 2016 Q2. Its down 0.79, from 2 in 2016Q1. The ratio dived, as 11 funds sold all Gold Resource Corporation shares owned while 14 reduced positions. 22 funds bought stakes while 28 increased positions. They now own 19.29 million shares or 34.67% more from 14.32 million shares in 2016Q1.
The Massachusetts-based Geode Mngmt Ltd has invested 0% in Gold Resource Corporation (NYSEMKT:GORO). Highbridge Cap Mngmt Lc last reported 0% of its portfolio in the stock. The California-based California Employees Retirement Systems has invested 0% in Gold Resource Corporation (NYSEMKT:GORO). The Minnesota-based Us Financial Bank De has invested 0% in Gold Resource Corporation (NYSEMKT:GORO). Tudor Inv Corporation Et Al accumulated 45,594 shares or 0% of the stock. Driehaus Mgmt Ltd Llc has 83,283 shares for 0.01% of their US portfolio. Blackrock Inc holds 0% of its portfolio in Gold Resource Corporation (NYSEMKT:GORO) for 1,872 shares. Parametric Port Associates Lc reported 17,835 shares or 0% of all its holdings. Moreover, Cetera Advisor Netwr Limited Liability Com has 0% invested in Gold Resource Corporation (NYSEMKT:GORO) for 13,333 shares. Puplava Financial Service reported 10,075 shares or 0.02% of all its holdings. Price T Rowe Assocs Inc Md holds 0% or 79,700 shares in its portfolio. Morgan Stanley holds 806,980 shares or 0% of its portfolio. Schwab Charles Inv Mngmt accumulated 81,400 shares or 0% of the stock. Vanguard Gru Incorporated has invested 0% of its portfolio in Gold Resource Corporation (NYSEMKT:GORO). Rhumbline Advisers, a Massachusetts-based fund reported 41,922 shares.

Insider Transactions: Since September 9, 2016, the stock had 0 buys, and 3 insider sales for $702,694 net activity. LABATE JOHN A had sold 50,000 shares worth $304,500. Patterson Gregory A sold $193,665 worth of Gold Resource Corporation (NYSEMKT:GORO) on Friday, September 9. $204,529 worth of Gold Resource Corporation (NYSEMKT:GORO) shares were sold by Irvine Richard M.

More important recent Gold Resource Corporation (NYSEMKT:GORO) news were published by: Nasdaq.com which released: “Gold Resource Corporation (GORO) Ex-Dividend Date Scheduled for November 08, 2016” on November 07, 2016, also Seekingalpha.com published article titled: “Gold Resource Corp: The Risks Have Increased”, Marketwired.com published: “Gold Resource Corporation Reports Third Quarter Net Income of $1.6 Million, or …” on November 02, 2016. More interesting news about Gold Resource Corporation (NYSEMKT:GORO) was released by: Seekingalpha.com and their article: “Gold Resource Corporation: Sit This One Out, For Now” with publication date: May 04, 2016.

GORO Company Profile

Gold Resource Corporation, incorporated on August 24, 1998, is a producer of metal concentrates that contain gold, silver, copper, lead and zinc, and dore containing gold and silver at the Aguila Project in the southern state of Oaxaca, Mexico (Oaxaca). The Firm has two units in North America, the Oaxaca Mining Unit and the Nevada Mining Unit. The majority of its assets are located at its Oaxaca Mining Unit, located on its Aguila Project, including its Aguila milling facility and Arista underground mine. The Aguila milling facility produces metal concentrates and dore from ore mined from the Arista mine, which contains precious metal products of gold and silver, and by-products of copper, lead and zinc. The Company’s activities in Oaxaca are conducted through its Mexican subsidiary, Don David Gold Mexico S.A. de C.V. (DDGM). The Company’s Nevada exploration is done through its subsidiary, GRC Nevada Inc.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment