GoldMining (NYSEAMERICAN:GLDG) Stock Price Down 1.6% – Here’s Why

GoldMining Inc. (NYSEAMERICAN:GLDG) shares were down 1.6% during mid-day trading on Thursday . The company traded as low as $1.25 and last traded at $1.26. Approximately 1,625,696 shares changed hands during trading, a decline of 34% from the average daily volume of 2,446,526 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research lowered GoldMining from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. HC Wainwright boosted their price target on shares of GoldMining from $3.25 to $3.75 and gave the company a “buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.75.

GoldMining Stock Performance

The business has a 50 day moving average of $1.41 and a two-hundred day moving average of $1.09. The stock has a market capitalization of $262.48 million, a PE ratio of -25.20 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP raised its stake in shares of GoldMining by 396.0% during the 2nd quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock worth $334,000 after acquiring an additional 370,556 shares in the last quarter. Bank of America Corp DE grew its holdings in GoldMining by 204.6% in the third quarter. Bank of America Corp DE now owns 393,604 shares of the company’s stock worth $484,000 after purchasing an additional 264,400 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of GoldMining by 114.5% during the first quarter. Goldman Sachs Group Inc. now owns 317,008 shares of the company’s stock worth $269,000 after purchasing an additional 169,200 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of GoldMining during the 3rd quarter valued at $162,000. Finally, Cibc World Market Inc. boosted its position in shares of GoldMining by 139.1% in the 3rd quarter. Cibc World Market Inc. now owns 169,680 shares of the company’s stock worth $207,000 after purchasing an additional 98,700 shares in the last quarter. Hedge funds and other institutional investors own 11.25% of the company’s stock.

About GoldMining

GoldMining Inc, a mineral exploration company, focuses on the acquisition, exploration, and development of gold assets in the Americas. It also operates a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the United States, Brazil, Colombia, and Peru. The company's principal projects include La Mina Gold Project and Titiribi Gold-Copper Project located in Colombia; Whistler Gold-Copper Project located in Alaska, the United States; and São Jorge Gold Project located in the State of Pará, Brazil.