GoldMining Inc. (NYSEAMERICAN:GLDG) Short Interest Update

GoldMining Inc. (NYSEAMERICAN:GLDG) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 2,898,934 shares, a growth of 20.5% from the February 26th total of 2,406,275 shares. Based on an average daily volume of 2,238,352 shares, the short-interest ratio is currently 1.3 days. Currently, 1.4% of the company’s shares are sold short.

Institutional Investors Weigh In On GoldMining

A number of institutional investors and hedge funds have recently made changes to their positions in GLDG. Trek Financial LLC bought a new position in GoldMining in the 4th quarter valued at about $3,192,000. Millennium Management LLC increased its holdings in GoldMining by 1,840.6% during the 4th quarter. Millennium Management LLC now owns 1,828,678 shares of the company’s stock worth $2,286,000 after purchasing an additional 1,734,445 shares in the last quarter. Jane Street Group LLC raised its stake in shares of GoldMining by 350.5% in the fourth quarter. Jane Street Group LLC now owns 751,505 shares of the company’s stock worth $939,000 after purchasing an additional 584,705 shares during the last quarter. Marshall Wace LLP raised its stake in shares of GoldMining by 396.0% in the second quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock worth $334,000 after purchasing an additional 370,556 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of GoldMining by 204.6% in the third quarter. Bank of America Corp DE now owns 393,604 shares of the company’s stock valued at $484,000 after purchasing an additional 264,400 shares in the last quarter. Institutional investors and hedge funds own 11.25% of the company’s stock.

GoldMining Stock Up 8.2%

GLDG stock traded up $0.09 during midday trading on Tuesday, reaching $1.19. 1,663,856 shares of the company’s stock traded hands, compared to its average volume of 4,410,281. The firm’s fifty day moving average price is $1.53 and its 200-day moving average price is $1.42. GoldMining has a 52 week low of $0.71 and a 52 week high of $2.27. The company has a market cap of $254.37 million, a price-to-earnings ratio of -23.80 and a beta of 1.10.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and issued a $2.80 price target on shares of GoldMining in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.28.

GoldMining Company Profile

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.