GoldMining Inc. (NYSEAMERICAN:GLDG) Short Interest Up 20.5% in March

GoldMining Inc. (NYSEAMERICAN:GLDG) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 2,898,934 shares, an increase of 20.5% from the February 26th total of 2,406,275 shares. Based on an average daily volume of 2,238,352 shares, the short-interest ratio is presently 1.3 days. Currently, 1.4% of the company’s stock are short sold.

GoldMining Stock Performance

Shares of GLDG stock opened at $1.25 on Thursday. GoldMining has a 52-week low of $0.71 and a 52-week high of $2.27. The stock has a market cap of $267.20 million, a price-to-earnings ratio of -25.00 and a beta of 1.24. The firm’s 50-day moving average is $1.51 and its 200-day moving average is $1.42.

Wall Street Analyst Weigh In

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

Institutional Trading of GoldMining

A number of hedge funds have recently made changes to their positions in the business. Heritage Family Offices LLP acquired a new position in shares of GoldMining during the 3rd quarter worth approximately $37,000. Financial Security Advisor Inc. raised its stake in GoldMining by 40.8% in the 4th quarter. Financial Security Advisor Inc. now owns 27,935 shares of the company’s stock valued at $35,000 after acquiring an additional 8,100 shares during the period. Prospera Financial Services Inc acquired a new stake in GoldMining during the 4th quarter valued at $125,000. Jane Street Group LLC acquired a new stake in GoldMining during the 1st quarter valued at $77,000. Finally, Millennium Management LLC boosted its position 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 purchasing an additional 1,734,445 shares during the period. 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.