Price Action To Observe: Time to Buy Gold Resource Corporation After Today’s Huge Decline?

Price Action To Observe: Time to Buy Gold Resource Corporation After Today's Huge Decline?

The stock of Gold Resource Corporation (NYSEMKT:GORO) is a huge mover today! The stock decreased 6.79% or $0.4 on November 4, hitting $5.49. About 1.03M shares traded hands. Gold Resource Corporation (NYSEMKT:GORO) has risen 158.33% since April 4, 2016 and is uptrending. It has outperformed by 157.24% the S&P500.
The move comes after 5 months negative chart setup for the $297.92M company. It was reported on Nov, 4 by Barchart.com. We have $4.94 PT which if reached, will make NYSEMKT:GORO worth $29.79 million less.

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 increased to 2 in Q2 2016. Its up 0.72, from 1.28 in 2016Q1. The ratio increased, 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.
Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Gold Resource Corporation (NYSEMKT:GORO) for 3,212 shares. Walleye Trading Ltd Liability holds 0% of its portfolio in Gold Resource Corporation (NYSEMKT:GORO) for 1,500 shares. Parametric Portfolio Associate Limited, a Washington-based fund reported 17,835 shares. California State Teachers Retirement last reported 0% of its portfolio in the stock. California Employees Retirement owns 62,100 shares or 0% of their US portfolio. Stifel Corp last reported 0% of its portfolio in the stock. Northern accumulated 0% or 191,754 shares. Jpmorgan Chase & owns 1,050 shares or 0% of their US portfolio. Driehaus Cap Management Lc owns 83,283 shares or 0.01% of their US portfolio. Brandes Invest Prns Limited Partnership has 68,513 shares for 0% of their US portfolio. Aqr Cap Management Ltd Limited Liability Company has invested 0% of its portfolio in Gold Resource Corporation (NYSEMKT:GORO). Blackrock Fund reported 1.31M shares or 0% of all its holdings. Dimensional Fund Advsr Limited Partnership last reported 81,697 shares in the company. Grp One Trading L P holds 0% of its portfolio in Gold Resource Corporation (NYSEMKT:GORO) for 17,257 shares. Moreover, Barclays Public Ltd Co has 0% invested in Gold Resource Corporation (NYSEMKT:GORO) for 1,839 shares.

Insider Transactions: Since September 9, 2016, the stock had 0 insider buys, and 3 insider sales for $702,694 net activity. $304,500 worth of Gold Resource Corporation (NYSEMKT:GORO) was sold by LABATE JOHN A on Monday, September 12. Patterson Gregory A had sold 33,333 shares worth $193,665 on Friday, September 9. Shares for $204,529 were sold by Irvine Richard M on Friday, September 9.

More notable recent Gold Resource Corporation (NYSEMKT:GORO) news were published by: Marketwired.com which released: “Gold Resource Corporation Reports Third Quarter Net Income of $1.6 Million, or …” on November 02, 2016, also Marketwired.com with their article: “Gold Resource Corporation Intercepts Additional High Grade Including 12.19 …” published on October 13, 2016, Marketwired.com published: “Gold Resource Corporation Arista Mine Development Crosscuts Switchback Vein System” on October 18, 2016. More interesting news about Gold Resource Corporation (NYSEMKT:GORO) were released by: Seekingalpha.com and their article: “Gold Resource Corp: The Risks Have Increased” published on August 15, 2016 as well as Marketwatch.com‘s news article titled: “Gold Resource Corporation Declares September Monthly Dividend” with publication date: September 28, 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.

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