GoldMining Inc. (NYSEAMERICAN:GLDG) Short Interest Down 12.1% in October

GoldMining Inc. (NYSEAMERICAN:GLDG) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,810,000 shares, a decline of 12.1% from the October 15th total of 2,060,000 shares. Based on an average trading volume of 749,200 shares, the short-interest ratio is presently 2.4 days. Currently, 1.0% of the shares of the company are sold short.

GoldMining Stock Performance

GLDG stock remained flat at $0.92 during trading on Monday. 942,253 shares of the company were exchanged, compared to its average volume of 531,595. The stock has a market capitalization of $176.27 million, a P/E ratio of -9.20 and a beta of 1.10. GoldMining has a 52-week low of $0.75 and a 52-week high of $1.08.

GoldMining (NYSEAMERICAN:GLDG) last released its quarterly earnings data on Friday, October 11th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). As a group, analysts predict that GoldMining will post -0.06 earnings per share for the current year.

Institutional Trading of GoldMining

Several institutional investors and hedge funds have recently modified their holdings of GLDG. Renaissance Technologies LLC raised its position in shares of GoldMining by 1,564.0% in the second quarter. Renaissance Technologies LLC now owns 291,200 shares of the company’s stock valued at $260,000 after buying an additional 273,700 shares during the last quarter. Van ECK Associates Corp raised its position in shares of GoldMining by 0.8% in the third quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company’s stock valued at $8,968,000 after buying an additional 74,318 shares during the last quarter. Grimes & Company Inc. acquired a new position in shares of GoldMining in the third quarter valued at approximately $32,000. Finally, SageView Advisory Group LLC acquired a new position in shares of GoldMining in the third quarter valued at approximately $76,000. Hedge funds and other institutional investors own 11.25% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.25 target price on shares of GoldMining in a report on Friday, August 30th.

GoldMining Company Profile

GoldMining Inc, a mineral exploration company, focuses on the acquisition, exploration, and development of gold assets in the Americas. It also operates a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the United States, Brazil, Colombia, and Peru. The company's principal projects include La Mina Gold Project and Titiribi Gold-Copper Project located in Colombia; Whistler Gold-Copper Project located in Alaska, the United States; and São Jorge Gold Project located in the State of Pará, Brazil.