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

GoldMining Inc. (NYSEAMERICAN:GLDG) was the target of a large decline in short interest in 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. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 799,300 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Ratings Changes

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

GoldMining Stock Down 1.8 %

Shares of NYSEAMERICAN 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 company has a market cap of $160.49 million, a P/E ratio of -8.24 and a beta of 1.06.

GoldMining (NYSEAMERICAN:GLDG) last posted its earnings results on Friday, October 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). As a group, equities research analysts predict that GoldMining will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On GoldMining

A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of 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 in the last quarter. Van ECK Associates Corp grew its position in 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 purchasing an additional 74,318 shares in the last quarter. SageView Advisory Group LLC bought a new position in GoldMining in the third quarter valued at $76,000. Grimes & Company Inc. acquired a new stake in GoldMining in the 3rd quarter valued at $32,000. Finally, Virtu Financial LLC bought a new stake in GoldMining during the 3rd quarter worth about $32,000. Institutional investors 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.