GoldMining (NYSEAMERICAN:GLDG) Raised to Strong-Buy at Ventum Financial

Key Points

• Ventum Financial upgraded GoldMining to “strong buy,” while other analysts offered mixed views; the stock carries a consensus “Moderate Buy” rating and an average price target of $2.77.
• GoldMining shares fell 4.6% to open at $1.03, with a market capitalization of approximately $221 million and a one-year trading range of $0.80 to $2.27.
• Several institutional investors increased their positions, including Goldman Sachs, Marshall Wace and Bank of America; institutional investors collectively own 11.25% of the company.

GoldMining (NYSEAMERICAN:GLDG - Get Free Report) was upgraded by Ventum Financial to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

A number of other research firms have also commented on GLDG. HC Wainwright lowered their price target on GoldMining from $3.75 to $2.75 and set a "buy" rating for the company in a research report on Friday, July 17th. Zacks Research lowered GoldMining from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $2.77.

GoldMining Trading Down 4.6%

GoldMining stock opened at $1.03 on Tuesday. The firm has a 50-day moving average of $0.95 and a 200-day moving average of $1.14. The firm has a market cap of $221.24 million, a P/E ratio of -12.88 and a beta of 1.27. GoldMining has a 1-year low of $0.80 and a 1-year high of $2.27.

Hedge Funds Weigh In On GoldMining

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of GoldMining by 114.5% in the first quarter. Goldman Sachs Group Inc. now owns 317,008 shares of the company's stock worth $269,000 after buying an additional 169,200 shares in the last quarter. Jane Street Group LLC purchased a new position in GoldMining in the 1st quarter worth approximately $77,000. Marshall Wace LLP lifted its position in GoldMining by 396.0% in the 2nd quarter. Marshall Wace LLP now owns 464,140 shares of the company's stock valued at $334,000 after acquiring an additional 370,556 shares in the last quarter. Bank of America Corp DE lifted its position in GoldMining by 58.3% in the 2nd quarter. Bank of America Corp DE now owns 129,204 shares of the company's stock valued at $93,000 after acquiring an additional 47,595 shares in the last quarter. Finally, Millennium Management LLC bought a new position in GoldMining in the 3rd quarter valued at approximately $116,000. Institutional investors own 11.25% of the company's stock.

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.

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