GoldMining Inc. (NYSEAMERICAN:GLDG) Sees Significant Growth in Short Interest

GoldMining Inc. (NYSEAMERICAN:GLDG) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 2,030,000 shares, a growth of 12.2% from the October 31st total of 1,810,000 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 838,700 shares, the days-to-cover ratio is currently 2.4 days.

GoldMining Trading Up 1.1 %

Shares of GLDG stock traded up $0.01 on Tuesday, reaching $0.86. 313,827 shares of the company’s stock traded hands, compared to its average volume of 533,211. The company has a market capitalization of $166.45 million, a price-to-earnings ratio of -8.55 and a beta of 1.06. GoldMining has a 12-month low of $0.75 and a 12-month high of $1.08.

GoldMining (NYSEAMERICAN:GLDG) last posted its quarterly earnings results on Friday, October 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). On average, sell-side analysts predict that GoldMining will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Grimes & Company Inc. acquired a new stake in shares of GoldMining in the third quarter worth $32,000. Virtu Financial LLC bought a new stake in shares of GoldMining in the 3rd quarter worth approximately $32,000. SageView Advisory Group LLC acquired a new stake in shares of GoldMining during the 3rd quarter worth approximately $76,000. Renaissance Technologies LLC increased its holdings in GoldMining by 1,564.0% in the 2nd 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 period. Finally, Van ECK Associates Corp raised its position in GoldMining by 0.8% in the third quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company’s stock worth $8,968,000 after purchasing an additional 74,318 shares in the last quarter. Institutional investors own 11.25% of the company’s stock.

Analyst Ratings Changes

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

About GoldMining

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.