GoldMining (NYSEAMERICAN:GLDG) Shares Up 4.3% – Here’s Why

GoldMining Inc. (NYSEAMERICAN:GLDG)’s stock price was up 4.3% during mid-day trading on Thursday . The company traded as high as $1.7397 and last traded at $1.71. Approximately 4,857,217 shares traded hands during trading, an increase of 35% from the average daily volume of 3,595,372 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Roth Mkm reissued a “buy” rating and issued a $2.80 price target on shares of GoldMining in a report on Wednesday, January 7th. HC Wainwright lifted their target price on shares of GoldMining from $3.25 to $3.75 and gave the company a “buy” rating in a research report on Monday, September 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.28.

GoldMining Trading Up 4.3%

The business has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.20. The company has a market cap of $359.84 million, a PE ratio of -34.20 and a beta of 1.14.

Institutional Trading of GoldMining

Several large investors have recently bought and sold shares of the business. Simplicity Wealth LLC grew its position in shares of GoldMining by 100.0% in the second quarter. Simplicity Wealth LLC now owns 40,000 shares of the company’s stock valued at $29,000 after purchasing an additional 20,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in 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 buying an additional 169,200 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in GoldMining in the 3rd quarter valued at $162,000. Sprott Inc. increased its stake in shares of GoldMining by 12.7% in the 3rd quarter. Sprott Inc. now owns 363,621 shares of the company’s stock worth $447,000 after acquiring an additional 40,843 shares during the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of GoldMining by 139.1% during the 3rd quarter. Cibc World Market Inc. now owns 169,680 shares of the company’s stock worth $207,000 after acquiring an additional 98,700 shares during the period. Hedge funds and other institutional investors own 11.25% of the company’s stock.

About GoldMining

GoldMining Inc is a Canada-based mineral exploration and development company focused on the acquisition and advancement of precious metal projects in the Americas. Publicly traded on the NYSE American under the symbol GLDG, the company targets high-quality gold assets with the potential for significant resource expansion. GoldMining seeks to identify projects at various stages, from early exploration to advanced development, and apply systematic drilling and metallurgical testing to enhance their economic prospects.

The company’s portfolio encompasses a diversified suite of properties across North and South America.