Yea, that is a surface mount component, most likely a capacitor or a resister. If one of the sides is lifted and no longer making a connection, then you will want to solder it back on.
Be forewarned these are very complex boards packed in a small area. You need a low wattage (around 30 watt or less) soldering iron, preferably a magnifying glass, a tool to hold the component in place while you solder (else it'l just stick to the solder iron and come right off), and most of all patience.
I could easily fix that particular component, but if there are traces that are bad too it's pretty much hopeless.
Thanks,
Neofree