GoldMining Inc. (NYSEAMERICAN:GLDG) Short Interest Down 15.2% in February

GoldMining Inc. (NYSEAMERICAN:GLDG) was the recipient of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,840,000 shares, a drop of 15.2% from the January 31st total of 2,170,000 shares. Based on an average daily volume of 474,000 shares, the short-interest ratio is currently 3.9 days. Approximately 1.0% of the company’s shares are short sold.

GoldMining Price Performance

GLDG opened at $0.81 on Wednesday. The company has a market cap of $159.29 million, a price-to-earnings ratio of -8.13 and a beta of 1.07. GoldMining has a one year low of $0.75 and a one year high of $1.06.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright decreased their price objective on shares of GoldMining from $5.50 to $3.25 and set a “buy” rating on the stock in a research report on Friday, February 28th.

Hedge Funds Weigh In On GoldMining

A number of hedge funds and other institutional investors have recently made changes to their positions in GLDG. Van ECK Associates Corp lifted its position in GoldMining by 1.0% during the 4th quarter. Van ECK Associates Corp now owns 9,240,333 shares of the company’s stock valued at $7,438,000 after acquiring an additional 86,964 shares during the period. Sprott Inc. raised its position in GoldMining by 270.9% in the 4th quarter. Sprott Inc. now owns 333,778 shares of the company’s stock worth $269,000 after buying an additional 243,778 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of GoldMining during the 3rd quarter valued at about $76,000. Jacobi Capital Management LLC purchased a new position in shares of GoldMining during the fourth quarter valued at approximately $40,000. Finally, JPMorgan Chase & Co. bought a new position in GoldMining during the third quarter valued at approximately $42,000. Institutional investors own 11.25% of the company’s stock.

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.