Zacks Research Downgrades GoldMining (NYSEAMERICAN:GLDG) to Strong Sell

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 to investors on Monday,Zacks.com reports.

Separately, HC Wainwright lowered their price target on GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.77.

GoldMining Trading Down 4.4%

NYSEAMERICAN:GLDG opened at $0.83 on Monday. GoldMining has a 12 month low of $0.76 and a 12 month high of $2.27. The stock has a 50 day moving average of $0.95 and a two-hundred day moving average of $1.25. The firm has a market cap of $179.14 million, a P/E ratio of -10.42 and a beta of 1.20.

Hedge Funds Weigh In On GoldMining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLDG. Renaissance Technologies LLC grew its holdings in GoldMining by 572.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,894,861 shares of the company’s stock valued at $4,635,000 after buying an additional 3,315,830 shares in the last quarter. Trek Financial LLC purchased a new position in shares of GoldMining during the 4th quarter worth $3,192,000. Millennium Management LLC boosted its position in shares of GoldMining by 1,840.6% during the 4th quarter. Millennium Management LLC now owns 1,828,678 shares of the company’s stock valued at $2,286,000 after acquiring an additional 1,734,445 shares during the last quarter. Jane Street Group LLC boosted its position in shares of GoldMining by 350.5% during the 4th quarter. Jane Street Group LLC now owns 751,505 shares of the company’s stock valued at $939,000 after acquiring an additional 584,705 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of GoldMining by 396.0% in the second quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock valued at $334,000 after purchasing an additional 370,556 shares during the period. Institutional investors and hedge funds own 11.25% of the company’s stock.

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.