Notable Mover: What’s Propelling Gold Resource Corporation to Decline So Much?

Notable Mover: What's Propelling Gold Resource Corporation to Decline So Much?

The stock of Gold Resource Corporation (NYSEMKT:GORO) is a huge mover today! The stock decreased 3.23% or $0.15 on November 16, hitting $4.49. About 862,763 shares traded hands. Gold Resource Corporation (NYSEMKT:GORO) has risen 70.59% since April 14, 2016 and is uptrending. It has outperformed by 65.90% the S&P500.
The move comes after 9 months negative chart setup for the $260.73 million company. It was reported on Nov, 16 by Barchart.com. We have $3.86 PT which if reached, will make NYSEMKT:GORO worth $36.50 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 2016 Q2. Its up 0.72, from 1.28 in 2016Q1. The ratio improved, 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 Pennsylvania-based Susquehanna Intll Group Limited Liability Partnership has invested 0% in Gold Resource Corporation (NYSEMKT:GORO). Citadel Lc holds 0% of its portfolio in Gold Resource Corporation (NYSEMKT:GORO) for 185,565 shares. Blackrock Inc holds 1,872 shares or 0% of its portfolio. Price T Rowe Assoc Inc Md accumulated 0% or 79,700 shares. Driehaus Ltd Liability last reported 0.01% of its portfolio in the stock. Massmutual Trust Fsb Adv has 0% invested in the company for 565 shares. Stifel Fin holds 10,250 shares or 0% of its portfolio. Blackrock Fund has 1.31 million shares for 0% of their US portfolio. Bank Of Mellon Corporation owns 524,199 shares or 0% of their US portfolio. California Pub Employees Retirement Sys last reported 62,100 shares in the company. Deutsche Bancorporation Ag last reported 96,564 shares in the company. Cambridge Invest Rech has 13,097 shares for 0% of their US portfolio. Moreover, Nationwide Fund has 0% invested in Gold Resource Corporation (NYSEMKT:GORO) for 32,052 shares. Van Eck Assocs owns 5.68 million shares or 0.1% of their US portfolio. The New York-based Jpmorgan Chase And has invested 0% in Gold Resource Corporation (NYSEMKT:GORO).

Insider Transactions: Since September 9, 2016, the stock had 0 insider buys, and 3 sales for $702,694 net activity. 50,000 shares with value of $304,500 were sold by LABATE JOHN A on Monday, September 12. On Friday, September 9 Patterson Gregory A sold $193,665 worth of the stock or 33,333 shares. The insider Irvine Richard M sold 34,666 shares worth $204,529.

More notable 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 Marketwired.com with their article: “Gold Resource Corporation Reports Third Quarter Net Income of $1.6 Million, or …” published on November 02, 2016, Marketwired.com published: “Gold Resource Corporation Receives Final Permit to Begin Mining Alta Gracia” on October 12, 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 Seekingalpha.com‘s news article titled: “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.

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