GoldMining (NYSEAMERICAN:GLDG) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded GoldMining from “strong sell” to “hold,” while the broader analyst consensus remains “Buy” with an average price target of $2.77.
• GoldMining shares were down 3.0% at $0.98, near their 50-day moving average, with a market capitalization of approximately $210.4 million and a 52-week range of $0.80 to $2.27.
• Institutional interest increased, including a 572.7% stake expansion by Renaissance Technologies; institutional investors now own 11.25% of the company.

GoldMining (NYSEAMERICAN:GLDG - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks reports.

GLDG has been the topic of a number of other reports. HC Wainwright cut their price objective on GoldMining from $3.75 to $2.75 and set a "buy" rating on the stock in a research note on Friday, July 17th. Ventum Financial raised shares of GoldMining to a "strong-buy" rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $2.77.

GoldMining Trading Down 3.0%

Shares of NYSEAMERICAN:GLDG opened at $0.98 on Tuesday. The stock has a market capitalization of $210.44 million, a PE ratio of -12.25 and a beta of 1.27. GoldMining has a 1 year low of $0.80 and a 1 year high of $2.27. The firm has a fifty day moving average price of $0.98 and a 200 day moving average price of $1.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted 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 valued at $4,635,000 after buying an additional 3,315,830 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in GoldMining in the 2nd quarter valued at approximately $797,000. Cibc World Market Inc. bought a new stake in shares of GoldMining in the 2nd quarter worth approximately $533,000. Bank of America Corp DE bought a new stake in shares of GoldMining in the 2nd quarter worth approximately $379,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of GoldMining during the 4th quarter worth approximately $125,000. Institutional investors own 11.25% of the company's stock.

About GoldMining

GoldMining Inc is a mineral exploration and development company focused on advancing a portfolio of gold projects in the Americas. The company does not operate producing mines; its activities center on acquiring, evaluating, exploring and developing mineral properties with potential for gold and other precious metals.

GoldMining's portfolio includes the Yellowknife Gold Project in the Northwest Territories, Canada, along with projects in the United States, Mexico, Colombia, Brazil and other jurisdictions in the Americas.

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