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Why Gold Resource Shares Were Sparkling
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 Gold Resource Corp. (NYSEMKT: GORO ) were shining brighter today, gaining as much as 12% after it said that production is in line with expectations, and benefiting from a bullish wave pushing precious metals higher.
So what: Like many of its peers, Gold Resource has had a rough past few days as lower-than-expected growth from China led to a widespread sell-off in the precious metal, and some investors may see a buying opportunity. Gold Resource said its preliminary output result for the first quarter is 22,300 ounces, down from 30,528 ounces a year ago and slightly below production in Q4 2012. For investors expecting gold prices to bounce back, the report seems to be good news as the company also stood by its production outlook for the year at 80,000-100,000 ounces.
Read More: http://www.stockgoldmarket.com/why-gold-resource-shares-were-sparkling
