GoldMining Inc. (NYSEAMERICAN:GLDG) Sees Significant Increase in Short Interest

GoldMining Inc. (NYSEAMERICAN:GLDG) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 2,030,000 shares, an increase of 12.2% from the October 31st total of 1,810,000 shares. Based on an average daily trading volume, of 838,700 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.1% of the company’s stock are sold short.

Institutional Trading of GoldMining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in GoldMining by 0.8% in the third quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company’s stock valued at $8,968,000 after buying an additional 74,318 shares in the last quarter. Renaissance Technologies LLC increased its stake in GoldMining by 1,564.0% in the 2nd quarter. Renaissance Technologies LLC now owns 291,200 shares of the company’s stock valued at $260,000 after purchasing an additional 273,700 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in GoldMining during the third quarter worth $76,000. Virtu Financial LLC acquired a new stake in GoldMining in the third quarter valued at $32,000. Finally, Grimes & Company Inc. purchased a new position in shares of GoldMining in the third quarter valued at $32,000. Hedge funds and other institutional investors own 11.25% of the company’s stock.

GoldMining Price Performance

NYSEAMERICAN GLDG traded up $0.01 during trading on Tuesday, hitting $0.86. The stock had a trading volume of 313,827 shares, compared to its average volume of 533,211. GoldMining has a twelve month low of $0.75 and a twelve month high of $1.08. The company has a market cap of $166.45 million, a P/E ratio of -8.55 and a beta of 1.06.

GoldMining (NYSEAMERICAN:GLDG) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). On average, analysts anticipate that GoldMining will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.25 price objective on shares of GoldMining in a report on Friday, August 30th.

About GoldMining

GoldMining Inc, a mineral exploration company, focuses on the acquisition, exploration, and development of gold assets in the Americas. It also operates a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the United States, Brazil, Colombia, and Peru. The company's principal projects include La Mina Gold Project and Titiribi Gold-Copper Project located in Colombia; Whistler Gold-Copper Project located in Alaska, the United States; and São Jorge Gold Project located in the State of Pará, Brazil.