Short Interest in GoldMining Inc. (NYSEAMERICAN:GLDG) Increases By 20.5%

GoldMining Inc. (NYSEAMERICAN:GLDG) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,898,934 shares, a growth of 20.5% from the February 26th total of 2,406,275 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 2,238,352 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reaffirmed a “buy” rating and set a $2.80 price objective 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.28.

GoldMining Stock Up 8.2%

NYSEAMERICAN GLDG traded up $0.09 during trading hours on Tuesday, reaching $1.19. 1,663,856 shares of the company were exchanged, compared to its average volume of 4,410,281. The stock has a market capitalization of $254.37 million, a P/E ratio of -23.80 and a beta of 1.10. GoldMining has a 1 year low of $0.71 and a 1 year high of $2.27. The business’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.42.

Institutional Investors Weigh In On GoldMining

Hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans purchased a new position in GoldMining in the third quarter valued at approximately $30,000. Financial Security Advisor Inc. increased its position in GoldMining by 40.8% in the fourth quarter. Financial Security Advisor Inc. now owns 27,935 shares of the company’s stock worth $35,000 after buying an additional 8,100 shares during the last quarter. Heritage Family Offices LLP purchased a new stake in GoldMining in the third quarter worth $37,000. Themes Management Co LLC bought a new stake in shares of GoldMining in the fourth quarter valued at $42,000. Finally, Quadrature Capital Ltd purchased a new position in shares of GoldMining during the 4th quarter valued at $44,000. Institutional investors 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.