GoldMining Inc. (NYSEAMERICAN:GLDG) Sees Significant Decrease in Short Interest

GoldMining Inc. (NYSEAMERICAN:GLDG - Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,220,000 shares, a drop of 10.1% from the September 15th total of 2,470,000 shares. Approximately 1.2% of the company's shares are short sold. Based on an average daily trading volume, of 623,800 shares, the short-interest ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $5.25 price objective on shares of GoldMining in a research note on Friday, August 30th.

GoldMining Stock Performance

Shares of GLDG stock traded up $0.02 during trading hours on Wednesday, reaching $0.96. 307,881 shares of the company's stock were exchanged, compared to its average volume of 497,456. The firm has a market capitalization of $182.61 million, a price-to-earnings ratio of -9.56 and a beta of 1.10. GoldMining has a 1 year low of $0.75 and a 1 year high of $1.08.

Institutional Investors Weigh In On GoldMining

A hedge fund recently raised its stake in GoldMining stock. Renaissance Technologies LLC increased its holdings in shares of GoldMining Inc. (NYSEAMERICAN:GLDG - Free Report) by 1,564.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,200 shares of the company's stock after purchasing an additional 273,700 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of GoldMining worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.