Short Interest in GoldMining Inc. (NYSEAMERICAN:GLDG) Drops By 22.6%

GoldMining Inc. (NYSEAMERICAN:GLDG) was the recipient of a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 2,406,275 shares, a decline of 22.6% from the February 12th total of 3,110,223 shares. Based on an average daily volume of 2,442,341 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.1% of the shares of the stock are short sold. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 2,442,341 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GLDG. Trek Financial LLC bought a new stake in GoldMining in the fourth quarter valued at approximately $3,192,000. Millennium Management LLC grew its holdings in shares of GoldMining by 1,840.6% in the 4th quarter. Millennium Management LLC now owns 1,828,678 shares of the company’s stock valued at $2,286,000 after buying an additional 1,734,445 shares during the period. Jane Street Group LLC grew its holdings in shares of GoldMining by 350.5% in the 4th quarter. Jane Street Group LLC now owns 751,505 shares of the company’s stock valued at $939,000 after buying an additional 584,705 shares during the period. Marshall Wace LLP increased its position in shares of GoldMining by 396.0% in the 2nd quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock valued at $334,000 after buying an additional 370,556 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of GoldMining by 204.6% in the 3rd quarter. Bank of America Corp DE now owns 393,604 shares of the company’s stock valued at $484,000 after buying an additional 264,400 shares in the last quarter. Institutional investors and hedge funds own 11.25% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm restated a “buy” rating and set a $2.80 target price on shares of GoldMining in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, GoldMining presently has a consensus rating of “Moderate Buy” and an average target price of $3.28.

GoldMining Price Performance

Shares of GLDG stock traded up $0.03 during trading hours on Monday, reaching $1.42. The company had a trading volume of 2,563,813 shares, compared to its average volume of 2,218,230. GoldMining has a 1-year low of $0.71 and a 1-year high of $2.27. The company has a 50 day moving average of $1.58 and a 200 day moving average of $1.42. The firm has a market cap of $303.54 million, a price-to-earnings ratio of -28.40 and a beta of 1.10.

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.