GoldMining (NYSEAMERICAN:GLDG) Downgraded by Zacks Research to Strong Sell

GoldMining (NYSEAMERICAN:GLDG) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Separately, HC Wainwright lowered their price target on shares of GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.77.

GoldMining Price Performance

NYSEAMERICAN:GLDG opened at $0.83 on Monday. The company’s fifty day moving average price is $0.95 and its 200-day moving average price is $1.25. GoldMining has a 1-year low of $0.76 and a 1-year high of $2.27. The firm has a market capitalization of $179.14 million, a P/E ratio of -10.42 and a beta of 1.20.

Hedge Funds Weigh In On GoldMining

A number of hedge funds have recently bought and sold shares of the business. Financial Security Advisor Inc. increased its position in shares of GoldMining by 40.8% in the fourth quarter. Financial Security Advisor Inc. now owns 27,935 shares of the company’s stock valued at $35,000 after buying an additional 8,100 shares in the last quarter. Pacific Excel Wealth Advisors Inc. acquired a new stake in GoldMining in the 2nd quarter valued at $27,000. Themes Management Co LLC acquired a new stake in GoldMining in the 4th quarter valued at $42,000. Quadrature Capital Ltd purchased a new stake in GoldMining in the 4th quarter worth $44,000. Finally, Sigma Planning Corp purchased a new stake in GoldMining in the 4th quarter worth $47,000. 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.