GoldMining (NYSEAMERICAN:GLDG) Trading Down 2.6% – What’s Next?

Shares of GoldMining Inc. (NYSEAMERICAN:GLDG) fell 2.6% on Tuesday . The company traded as low as $0.74 and last traded at $0.74. 414,616 shares traded hands during trading, a decline of 27% from the average session volume of 566,386 shares. The stock had previously closed at $0.76.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.25 price objective on shares of GoldMining in a research note on Tuesday, April 15th.

GoldMining Trading Down 2.6%

The company’s 50-day moving average is $0.78. The firm has a market cap of $145.34 million, a PE ratio of -7.40 and a beta of 0.96.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Total Wealth Planning & Management Inc. acquired a new position in GoldMining in the 4th quarter valued at about $35,000. Jacobi Capital Management LLC acquired a new position in shares of GoldMining during the fourth quarter worth about $40,000. Jane Street Group LLC acquired a new position in shares of GoldMining during the first quarter worth about $77,000. Baader Bank Aktiengesellschaft acquired a new position in shares of GoldMining during the first quarter worth about $82,000. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 in the last quarter. Hedge funds and other 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.