GoldMining (NYSEAMERICAN:GLDG) Stock Rating Upgraded by Zacks Research

GoldMining (NYSEAMERICAN:GLDG) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

A number of other analysts also recently issued reports on GLDG. HC Wainwright decreased their price target on GoldMining from $3.75 to $2.75 and set a “buy” rating for the company in a report on Friday, July 17th. Ventum Financial upgraded GoldMining to a “strong-buy” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, GoldMining has a consensus rating of “Buy” and an average target price of $2.77.

GoldMining Trading Down 3.0%

Shares of GLDG stock opened at $0.98 on Tuesday. The company has a market cap of $210.44 million, a P/E ratio of -12.25 and a beta of 1.27. The firm has a fifty day moving average price of $0.98 and a 200 day moving average price of $1.10. GoldMining has a 12 month low of $0.80 and a 12 month high of $2.27.

Hedge Funds Weigh In On GoldMining

Several large investors have recently bought and sold shares of GLDG. Renaissance Technologies LLC increased its position in shares of GoldMining by 572.7% during the first quarter. Renaissance Technologies LLC now owns 3,894,861 shares of the company’s stock worth $4,635,000 after purchasing an additional 3,315,830 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of GoldMining in the 2nd quarter valued at about $797,000. Cibc World Market Inc. acquired a new stake in shares of GoldMining in the 2nd quarter valued at about $533,000. Bank of America Corp DE purchased a new position in GoldMining during the 2nd quarter worth approximately $379,000. Finally, Prospera Financial Services Inc acquired a new position in GoldMining during the fourth quarter worth approximately $125,000. Institutional investors and hedge funds own 11.25% of the company’s stock.

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.