GoldMining Inc. (NYSEAMERICAN:GLDG) Short Interest Up 12.2% in November

GoldMining Inc. (NYSEAMERICAN:GLDG) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,030,000 shares, an increase of 12.2% from the October 31st total of 1,810,000 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 838,700 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLDG. Virtu Financial LLC bought a new position in GoldMining in the third quarter worth about $32,000. SageView Advisory Group LLC bought a new position in shares of GoldMining during the 3rd quarter worth approximately $76,000. Van ECK Associates Corp lifted 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. purchased a new stake in GoldMining during the third quarter valued at approximately $32,000. Finally, Renaissance Technologies LLC grew its holdings in GoldMining by 1,564.0% in the second quarter. Renaissance Technologies LLC now owns 291,200 shares of the company’s stock worth $260,000 after purchasing an additional 273,700 shares during the last quarter. Institutional investors own 11.25% of the company’s stock.

GoldMining Stock Performance

Shares of NYSEAMERICAN GLDG traded up $0.01 during midday trading on Tuesday, hitting $0.86. The company’s stock had a trading volume of 313,827 shares, compared to its average volume of 533,211. GoldMining has a 12-month low of $0.75 and a 12-month high of $1.08. The company has a market cap of $166.45 million, a price-to-earnings ratio of -8.55 and a beta of 1.06.

GoldMining (NYSEAMERICAN:GLDG) last posted its quarterly earnings results on Friday, October 11th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Sell-side analysts predict that GoldMining will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.25 price target on shares of GoldMining in a research note on Friday, August 30th.

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.