GoldMining (NYSEAMERICAN:GLDG) Stock Price Up 4.3% – Time to Buy?

GoldMining Inc. (NYSEAMERICAN:GLDG)’s share price was up 4.3% during trading on Thursday . The company traded as high as $1.7397 and last traded at $1.71. Approximately 4,857,217 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 3,595,372 shares. The stock had previously closed at $1.64.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GLDG. Roth Mkm reiterated a “buy” rating and set a $2.80 target price on shares of GoldMining in a report on Wednesday, January 7th. HC Wainwright lifted their price target on shares of GoldMining from $3.25 to $3.75 and gave the company a “buy” rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.28.

GoldMining Stock Performance

The firm has a fifty day moving average of $1.40 and a 200 day moving average of $1.21. The firm has a market capitalization of $399.82 million, a PE ratio of -38.00 and a beta of 1.14.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Simplicity Wealth LLC increased its stake in GoldMining by 100.0% during the 2nd quarter. Simplicity Wealth LLC now owns 40,000 shares of the company’s stock worth $29,000 after buying an additional 20,000 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of GoldMining by 114.5% during the first quarter. Goldman Sachs Group Inc. now owns 317,008 shares of the company’s stock valued at $269,000 after acquiring an additional 169,200 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of GoldMining during the third quarter valued at about $162,000. Millennium Management LLC purchased a new stake in shares of GoldMining during the third quarter worth about $116,000. Finally, Bank of America Corp DE lifted its stake in shares of GoldMining by 204.6% in the third quarter. Bank of America Corp DE now owns 393,604 shares of the company’s stock worth $484,000 after acquiring an additional 264,400 shares in the last quarter. 11.25% of the stock is owned by institutional investors and hedge funds.

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.