Renaissance Technologies LLC Acquires 3,315,830 Shares of GoldMining Inc. $GLDG

Renaissance Technologies LLC increased its stake in GoldMining Inc. (NYSEAMERICAN:GLDG) by 572.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,894,861 shares of the company’s stock after purchasing an additional 3,315,830 shares during the quarter. Renaissance Technologies LLC’s holdings in GoldMining were worth $4,635,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GLDG. Trek Financial LLC bought a new position in GoldMining during the fourth quarter worth $3,192,000. Millennium Management LLC increased its stake in GoldMining by 1,840.6% in the fourth quarter. Millennium Management LLC now owns 1,828,678 shares of the company’s stock valued at $2,286,000 after purchasing an additional 1,734,445 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of GoldMining by 15.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,996 shares of the company’s stock valued at $1,021,000 after purchasing an additional 107,605 shares during the period. Jane Street Group LLC raised its holdings in shares of GoldMining by 350.5% during the fourth quarter. Jane Street Group LLC now owns 751,505 shares of the company’s stock valued at $939,000 after purchasing an additional 584,705 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of GoldMining by 396.0% during the 2nd quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock worth $334,000 after purchasing an additional 370,556 shares in the last quarter. Institutional investors and hedge funds own 11.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GLDG. HC Wainwright reduced their target price on GoldMining from $3.75 to $2.75 and set a “buy” rating for the company in a research note on Friday, July 17th. Zacks Research downgraded GoldMining from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GoldMining currently has an average rating of “Hold” and an average price target of $2.77.

GoldMining Trading Up 2.7%

GLDG opened at $0.96 on Friday. GoldMining Inc. has a 1-year low of $0.78 and a 1-year high of $2.27. The company has a market cap of $207.26 million, a price-to-earnings ratio of -12.06 and a beta of 1.21. The company’s fifty day moving average price is $0.92 and its two-hundred day moving average price is $1.22.

About GoldMining

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.