GoldMining Inc. (NYSEAMERICAN:GLDG - Get Free Report) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 1,910,000 shares, a drop of 5.9% from the November 15th total of 2,030,000 shares. Based on an average trading volume of 799,300 shares, the short-interest ratio is presently 2.4 days. Currently, 1.1% of the company's stock are short sold.
GoldMining Price Performance
NYSEAMERICAN GLDG traded down $0.02 during midday trading on Tuesday, hitting $0.82. The company had a trading volume of 527,089 shares, compared to its average volume of 540,244. GoldMining has a fifty-two week low of $0.75 and a fifty-two week high of $1.06. The firm has a market capitalization of $160.49 million, a price-to-earnings ratio of -8.22 and a beta of 1.06.
GoldMining (NYSEAMERICAN:GLDG - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). As a group, sell-side analysts expect that GoldMining will post -0.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On GoldMining
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in GoldMining during the 3rd quarter valued at about $32,000. SageView Advisory Group LLC bought a new stake in GoldMining during the 3rd quarter worth approximately $76,000. Van ECK Associates Corp increased its holdings in GoldMining by 0.8% during the 3rd quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company's stock valued at $8,968,000 after purchasing an additional 74,318 shares in the last quarter. Grimes & Company Inc. bought a new position in GoldMining in the 3rd quarter valued at $32,000. Finally, Renaissance Technologies LLC boosted its stake in GoldMining by 1,564.0% in the second quarter. Renaissance Technologies LLC now owns 291,200 shares of the company's stock worth $260,000 after purchasing an additional 273,700 shares in the last quarter. Institutional investors own 11.25% of the company's stock.
Analysts Set New Price Targets
Separately, HC Wainwright raised their price target on shares of GoldMining from $5.25 to $5.50 and gave the company a "buy" rating in a report on Thursday, December 5th.
Read Our Latest Research Report on GoldMining
About GoldMining
(
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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.
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