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Gold Resource Shares Dropped: What You Need to Know

By Anders Bylund | More Articles
August 24, 2011 | Comments (4)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of metals explorer and producer Gold Resource (AMEX: GORO  ) lost some of their shine today, falling as much as 10.3% on above-average trading volume.

So what: After rising relentlessly throughout August, gold prices fell by more than $100 per ounce today. What's worse, Gold Resource actually digs up a lot more silver than gold, and you may have noticed silver prices plunging even steeper than gold today.

Now what: Crashing silver prices notwithstanding, Gold Resource is taking a much harder beating than silver peers Silver Wheaton (NYSE: SLW  ) , Silver Standard Resources (Nasdaq: SSRI  ) , and Pan American Silver (Nasdaq: PAAS  ) . That's because Gold Resource's management team looks anything but sterling -- a fact that has imparted a one-star CAPS rating on this stock amid a sea of more respectable competitors.

Interested in more info on Gold Resource? Add it to your watchlist.

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Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.


Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On August 24, 2011, at 5:06 PM, rangerkirk wrote:

    GORO is a stellar performer that has been hounded by mainstream media. Having bought in at $1.89 I have seen this mgmt team add ounces provide dividends and look at paying in Gold as well as minting gold coins.

    Ignore GORO at your peril.

  • Report this Comment On August 24, 2011, at 5:35 PM, pbreit wrote:

    SeekingAlpha put out a hack job today by a short.

  • Report this Comment On August 24, 2011, at 7:11 PM, Amadeus wrote:

    The Street Sweeper article is a clear hit piece orchestrated by the shorts to bring down GORO enough so they can cover with a profit. Management is the largest non-institutional shareholder, institutions own the majority of the stock and have been consistently adding, even as of last quarter. Management is shareholder-friendly, and have been paying a dividend since the very first month of production What's not to like.

  • Report this Comment On August 29, 2011, at 6:59 PM, rfaramir wrote:

    Quandary: the comments explain the situation better than the article, so do I rec the article or no?

    For now, no.

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Related Tickers

5/25/2012 4:01 PM
GORO $26.15 Up +0.91 +3.61%
Gold Resource Corp CAPS Rating: *
SSRI $11.34 Up +0.15 +1.34%
Silver Standard Re… CAPS Rating: ****
SLW $26.51 Up +0.16 +0.61%
Silver Wheaton Cor… CAPS Rating: ****
PAAS $16.91 Up +0.05 +0.30%
Pan American Silve… CAPS Rating: ***

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