GoldMining (NYSEAMERICAN:GLDG) Stock Price Down 0.8% – Here’s What Happened

GoldMining Inc. (NYSEAMERICAN:GLDG)’s stock price traded down 0.8% during trading on Friday . The stock traded as low as $1.26 and last traded at $1.30. 2,913,591 shares were traded during trading, an increase of 64% from the average session volume of 1,776,083 shares. The stock had previously closed at $1.31.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. HC Wainwright upped their price target on GoldMining from $3.25 to $3.75 and gave the stock a “buy” rating in a report on Monday, September 29th. Zacks Research lowered GoldMining from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GoldMining has an average rating of “Moderate Buy” and an average price target of $3.75.

GoldMining Stock Down 0.8%

The company has a market cap of $270.82 million, a PE ratio of -26.00 and a beta of 1.02. The stock’s 50 day simple moving average is $1.37 and its two-hundred day simple moving average is $1.01.

Institutional Investors Weigh In On GoldMining

A number of institutional investors have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft purchased a new position in shares of GoldMining in the 1st quarter worth about $82,000. Goldman Sachs Group Inc. increased its position in GoldMining by 114.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 317,008 shares of the company’s stock worth $269,000 after purchasing an additional 169,200 shares in the last quarter. Jane Street Group LLC purchased a new position in GoldMining in the first quarter valued at approximately $77,000. Simplicity Wealth LLC raised its holdings in GoldMining by 100.0% in the second quarter. Simplicity Wealth LLC now owns 40,000 shares of the company’s stock valued at $29,000 after buying an additional 20,000 shares during the period. Finally, Marshall Wace LLP lifted its position in GoldMining by 396.0% during the second quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock valued at $334,000 after buying an additional 370,556 shares in the last quarter. Hedge funds and other institutional investors own 11.25% of the company’s stock.

GoldMining Company Profile

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.