Cibc World Market Inc. Buys New Position in GoldMining Inc. $GLDG

Cibc World Market Inc. bought a new position in shares of GoldMining Inc. (NYSEAMERICAN:GLDG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 590,955 shares of the company’s stock, valued at approximately $533,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in shares of GoldMining by 572.7% in 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 during the last quarter. Trek Financial LLC bought a new position in GoldMining during the 4th quarter worth $3,192,000. Goldman Sachs Group Inc. lifted 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 buying an additional 107,605 shares during the period. Themes Management Co LLC bought a new stake in GoldMining in the fourth quarter valued at approximately $42,000. Finally, Prospera Financial Services Inc acquired a new stake in GoldMining during the 4th quarter valued at approximately $125,000. 11.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Zacks Research lowered shares of GoldMining from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. HC Wainwright reduced their price objective on shares of GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, GoldMining has an average rating of “Hold” and an average price target of $2.77.

GoldMining Trading Down 4.4%

GLDG stock opened at $1.09 on Friday. The stock has a market capitalization of $234.13 million, a PE ratio of -13.62 and a beta of 1.21. GoldMining Inc. has a 12-month low of $0.80 and a 12-month high of $2.27. The stock’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $1.15.

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.