GoldMining (NYSEAMERICAN:GLDG) Stock Price Down 4.4% – Time to Sell?

GoldMining Inc. (NYSEAMERICAN:GLDG)’s stock price was down 4.4% during mid-day trading on Friday . The stock traded as low as $1.0750 and last traded at $1.09. Approximately 846,881 shares were traded during trading, an increase of 1% from the average daily volume of 837,930 shares. The stock had previously closed at $1.14.

Analyst Ratings Changes

GLDG has been the topic of several recent research reports. HC Wainwright cut their price objective on GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a report on Friday, July 17th. Zacks Research cut GoldMining from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.77.

GoldMining Trading Down 4.4%

The stock has a market capitalization of $234.13 million, a P/E ratio of -13.62 and a beta of 1.21. The company has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.15.

Hedge Funds Weigh In On GoldMining

A number of institutional investors have recently modified their holdings of GLDG. Renaissance Technologies LLC grew its position 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 purchasing an additional 3,315,830 shares during the period. Trek Financial LLC acquired a new position in GoldMining during the fourth quarter worth $3,192,000. Millennium Management LLC raised its holdings in GoldMining by 1,840.6% during the fourth quarter. Millennium Management LLC now owns 1,828,678 shares of the company’s stock worth $2,286,000 after buying an additional 1,734,445 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GoldMining in the second quarter valued at $797,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of GoldMining by 15.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,996 shares of the company’s stock valued at $1,021,000 after buying an additional 107,605 shares during the last quarter. 11.25% of the stock is owned by institutional investors and hedge funds.

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.