GoldMining (NYSEAMERICAN:GLDG) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of GoldMining (NYSEAMERICAN:GLDG) from a strong sell rating to a hold rating in a report released on Tuesday morning,Zacks reports.

Other equities research analysts have also issued research reports about the company. HC Wainwright decreased their price target on GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a research note on Friday, July 17th. Ventum Financial raised GoldMining to a “strong-buy” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2.77.

GoldMining Trading Down 3.0%

Shares of GLDG opened at $0.98 on Tuesday. The firm’s 50-day moving average is $0.98 and its two-hundred day moving average is $1.10. GoldMining has a twelve month low of $0.80 and a twelve month high of $2.27. The firm has a market capitalization of $210.44 million, a P/E ratio of -12.25 and a beta of 1.27.

Institutional Trading of GoldMining

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake 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 buying an additional 3,315,830 shares in the last quarter. Cibc World Market Inc. acquired a new stake in GoldMining during the 2nd quarter valued at $533,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in GoldMining during the second quarter worth $797,000. IPG Investment Advisors LLC increased its position in GoldMining by 182.5% during the second quarter. IPG Investment Advisors LLC now owns 72,050 shares of the company’s stock worth $65,000 after buying an additional 46,550 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of GoldMining in the second quarter worth $379,000. 11.25% of the stock is currently owned by institutional investors and hedge funds.

GoldMining Company Profile

GoldMining Inc is a mineral exploration and development company focused on advancing a portfolio of gold projects in the Americas. The company does not operate producing mines; its activities center on acquiring, evaluating, exploring and developing mineral properties with potential for gold and other precious metals.

GoldMining’s portfolio includes the Yellowknife Gold Project in the Northwest Territories, Canada, along with projects in the United States, Mexico, Colombia, Brazil and other jurisdictions in the Americas.