Short Interest in GoldMining Inc. (NYSEAMERICAN:GLDG) Drops By 22.6%

GoldMining Inc. (NYSEAMERICAN:GLDG) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 2,406,275 shares, a decrease of 22.6% from the February 12th total of 3,110,223 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 2,442,341 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 2,442,341 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.1% of the shares of the company are sold short.

GoldMining Price Performance

GLDG stock traded down $0.04 during midday trading on Tuesday, reaching $1.39. The company had a trading volume of 1,152,353 shares, compared to its average volume of 4,754,813. The stock has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.42. GoldMining has a 1-year low of $0.71 and a 1-year high of $2.27. The company has a market capitalization of $296.06 million, a price-to-earnings ratio of -27.70 and a beta of 1.10.

Institutional Trading of GoldMining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its position in shares of 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 period. Goldman Sachs Group Inc. boosted its holdings in GoldMining by 15.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,996 shares of the company’s stock worth $1,021,000 after acquiring an additional 107,605 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of GoldMining by 350.5% in the fourth quarter. Jane Street Group LLC now owns 751,505 shares of the company’s stock valued at $939,000 after acquiring an additional 584,705 shares in the last quarter. XTX Topco Ltd increased its holdings in GoldMining by 196.9% during the fourth quarter. XTX Topco Ltd now owns 330,803 shares of the company’s stock worth $414,000 after buying an additional 219,392 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in GoldMining by 94.4% in the fourth quarter. Cibc World Market Inc. now owns 329,880 shares of the company’s stock worth $412,000 after acquiring an additional 160,200 shares during the period. 11.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and set a $2.80 target price on shares of GoldMining in a report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.28.

About GoldMining

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.