Traders Purchase Large Volume of Gold Resource Call Options (NYSE:GORO)

Gold Resource Co. (NYSE:GORO) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 6,718 call options on the company. This is an increase of approximately 706% compared to the average daily volume of 834 call options.

Gold Resource Stock Up 14.4%

GORO stock traded up $0.22 during trading on Wednesday, reaching $1.71. The company’s stock had a trading volume of 34,116,875 shares, compared to its average volume of 5,555,609. The company’s fifty day moving average is $0.86 and its 200-day moving average is $0.74. The company has a market capitalization of $275.81 million, a P/E ratio of -3.48 and a beta of 0.82. Gold Resource has a 1 year low of $0.29 and a 1 year high of $1.85.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Fiscal Wisdom Wealth Management LLC bought a new stake in Gold Resource in the third quarter worth $39,783,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Gold Resource by 48.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,071,771 shares of the company’s stock worth $3,404,000 after buying an additional 1,323,290 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Gold Resource by 1,268.0% in the 3rd quarter. Two Sigma Investments LP now owns 985,739 shares of the company’s stock worth $824,000 after buying an additional 913,684 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Gold Resource in the 3rd quarter worth about $359,000. Finally, Geode Capital Management LLC raised its position 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 valued at $843,000 after buying an additional 394,028 shares in the last quarter. 18.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price objective on Gold Resource from $1.25 to $2.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Gold Resource currently has an average rating of “Buy” and an average target price of $2.00.

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.