GoldMining Inc. (NYSEAMERICAN:GLDG) Sees Significant Decline in Short Interest

GoldMining Inc. (NYSEAMERICAN:GLDG) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,910,000 shares, a decline of 5.9% from the November 15th total of 2,030,000 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 799,300 shares, the short-interest ratio is currently 2.4 days.

GoldMining Stock Performance

Shares of GoldMining stock traded down $0.02 on Tuesday, reaching $0.82. 383,736 shares of the company’s stock were exchanged, compared to its average volume of 539,611. GoldMining has a 52 week low of $0.75 and a 52 week high of $1.06. The stock has a market capitalization of $160.14 million, a price-to-earnings ratio of -8.22 and a beta of 1.06.

GoldMining (NYSEAMERICAN:GLDG) last issued its earnings results on Friday, October 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). On average, equities research analysts forecast that GoldMining will post -0.09 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright raised their target price on GoldMining from $5.25 to $5.50 and gave the company a “buy” rating in a report on Thursday, December 5th.

Hedge Funds Weigh In On GoldMining

Several institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in GoldMining during the third quarter valued at about $32,000. SageView Advisory Group LLC bought a new stake in GoldMining during the third quarter worth about $76,000. Van ECK Associates Corp grew its position in GoldMining by 0.8% during the third quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company’s stock valued at $8,968,000 after acquiring an additional 74,318 shares during the last quarter. Grimes & Company Inc. bought a new stake in GoldMining in the third quarter worth $32,000. Finally, Renaissance Technologies LLC grew its position in GoldMining by 1,564.0% during the 2nd quarter. Renaissance Technologies LLC now owns 291,200 shares of the company’s stock worth $260,000 after acquiring an additional 273,700 shares during the last quarter. 11.25% of the stock is owned by institutional investors.

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.