GoldMining (NYSEAMERICAN:GLDG) Rating Lowered to “Strong Sell” at Zacks Research

GoldMining (NYSEAMERICAN:GLDG) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Separately, HC Wainwright reduced their price target on GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.77.

GoldMining Trading Down 4.4%

Shares of NYSEAMERICAN:GLDG opened at $0.83 on Monday. The company has a market cap of $179.14 million, a price-to-earnings ratio of -10.42 and a beta of 1.20. The company has a 50-day moving average price of $0.95 and a 200-day moving average price of $1.25. GoldMining has a 12 month low of $0.76 and a 12 month high of $2.27.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pacific Excel Wealth Advisors Inc. purchased a new stake in shares of GoldMining in the 2nd quarter worth about $27,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of GoldMining during the first quarter valued at about $69,000. Renaissance Technologies LLC raised its stake in GoldMining by 572.7% in the first quarter. Renaissance Technologies LLC now owns 3,894,861 shares of the company’s stock worth $4,635,000 after buying an additional 3,315,830 shares in the last quarter. XTX Topco Ltd lifted its holdings in GoldMining by 196.9% in the fourth quarter. XTX Topco Ltd now owns 330,803 shares of the company’s stock worth $414,000 after buying an additional 219,392 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in GoldMining during the 4th quarter valued at approximately $44,000. 11.25% of the stock is owned by hedge funds and other institutional investors.

GoldMining Company Profile

GoldMining Inc is a Canada-based mineral exploration and development company focused on the acquisition and advancement of precious metal projects in the Americas. Publicly traded on the NYSE American under the symbol GLDG, the company targets high-quality gold assets with the potential for significant resource expansion. GoldMining seeks to identify projects at various stages, from early exploration to advanced development, and apply systematic drilling and metallurgical testing to enhance their economic prospects.

The company’s portfolio encompasses a diversified suite of properties across North and South America.