GoldMining (NYSEAMERICAN:GLDG) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of GoldMining (NYSEAMERICAN:GLDG) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

GoldMining Stock Performance

GLDG opened at $1.17 on Monday. The company has a market capitalization of $234.27 million, a P/E ratio of -13.00 and a beta of 0.95. The stock has a fifty day moving average of $0.90 and a 200-day moving average of $0.82. GoldMining has a fifty-two week low of $0.71 and a fifty-two week high of $1.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP grew its position in GoldMining by 396.0% in the second quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock valued at $334,000 after acquiring an additional 370,556 shares during the last quarter. Goldman Sachs Group Inc. grew its position in GoldMining by 114.5% in the first quarter. Goldman Sachs Group Inc. now owns 317,008 shares of the company’s stock valued at $269,000 after acquiring an additional 169,200 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in GoldMining in the first quarter valued at about $82,000. Jane Street Group LLC bought a new position in GoldMining in the first quarter valued at about $77,000. Finally, Bank of America Corp DE grew its position in GoldMining by 58.3% in the second quarter. Bank of America Corp DE now owns 129,204 shares of the company’s stock valued at $93,000 after acquiring an additional 47,595 shares during the last quarter. Institutional investors and hedge funds 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.