Shares of Gold Resource Co. (GORO) saw major losses on Tuesday. The stock traded down ($1.84) or 6.47% for the day and last traded at $26.59. Approximately 389,871 shares changed hands during mid-day trading.
Separately, analysts at Jefferies initiated coverage on shares of Gold Resource Co. in a research note to investors on Tuesday, January 4th. They set a buy rating and a $45.00 price target on the stock.
Gold Resource Corporation is engaged in the exploration for and production of gold and silver, primarily in Mexico. The Company holds a 100% interest in five properties in Mexicos southern State of Oaxaca. Its properties include the El Aguila property, the Las Margaritas property, the El Rey property, the Solaga property and the Alta Gracia property. Its operations in Mexico are conducted through its wholly owned Mexican subsidiaries, Don David Gold, S.A. de C.V. and Golden Trump Resources S. A. de C.V. During the year ended December 31, 2009, the Company completed the construction of the flotation circuit of the mill at the El Aguila Project.
Shares of Gold Resource Co. traded down 6.33% during mid-day trading on Tuesday, hitting $26.63. Gold Resource Co. has a 52 week low of $9.80 and a 52 week high of $29.90. The stocks 50-day moving average is $26.59 and its 200-day moving average is $24.85. The company has a market cap of $1.411 billion.
