GoldMining Inc. (NYSEAMERICAN:GLDG) Sees Large Drop in Short Interest

GoldMining Inc. (NYSEAMERICAN:GLDG) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,910,000 shares, a decrease of 5.9% from the November 15th total of 2,030,000 shares. Based on an average daily volume of 799,300 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.1% of the shares of the stock are sold short.

Institutional Trading of GoldMining

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of GoldMining by 0.8% in the third quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company’s stock valued at $8,968,000 after buying an additional 74,318 shares during the period. Renaissance Technologies LLC boosted 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 buying an additional 273,700 shares during the period. SageView Advisory Group LLC bought a new stake in GoldMining during the 3rd quarter worth approximately $76,000. Virtu Financial LLC acquired a new position in GoldMining in the 3rd quarter valued at approximately $32,000. Finally, Grimes & Company Inc. bought a new position in shares of GoldMining during the third quarter valued at $32,000. Institutional investors own 11.25% of the company’s stock.

Analyst Ratings Changes

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

GoldMining Stock Performance

Shares of GLDG opened at $0.82 on Wednesday. GoldMining has a 52-week low of $0.75 and a 52-week high of $1.06. The firm has a market capitalization of $160.49 million, a PE ratio of -8.24 and a beta of 1.06.

GoldMining (NYSEAMERICAN:GLDG) last released 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). Equities research analysts expect that GoldMining will post -0.09 earnings per share for the current year.

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.