Renaissance Technologies LLC Has $4.63 Million Stock Position in GoldMining Inc. $GLDG

Key Points

• Renaissance Technologies increased its GoldMining stake by 572.7% in the first quarter, ending with 3.89 million shares worth approximately $4.64 million, or 1.82% of the company.
• GoldMining shares opened at $0.96, up 2.7%, with a market capitalization of roughly $207 million. Institutional investors collectively own 11.25% of the stock.
• Analyst sentiment is mixed: Zacks Research downgraded the stock to “strong sell,” while HC Wainwright maintained a “buy” rating despite lowering its price target to $2.75; the overall consensus is “Hold.”

Renaissance Technologies LLC increased its holdings in shares of GoldMining Inc. (NYSEAMERICAN:GLDG - Free Report) by 572.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,894,861 shares of the company's stock after buying an additional 3,315,830 shares during the quarter. Renaissance Technologies LLC owned 1.82% of GoldMining worth $4,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trek Financial LLC acquired a new stake in GoldMining in the fourth quarter valued at approximately $3,192,000. Sigma Planning Corp bought a new position in shares of GoldMining in the 4th quarter valued at $47,000. Cibc World Market Inc. lifted its stake in shares of GoldMining by 94.4% in the 4th quarter. Cibc World Market Inc. now owns 329,880 shares of the company's stock valued at $412,000 after acquiring an additional 160,200 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of GoldMining by 396.0% during 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. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of GoldMining by 114.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 317,008 shares of the company's stock valued at $269,000 after acquiring an additional 169,200 shares in the last quarter. Institutional investors own 11.25% of the company's stock.

GoldMining Stock Up 2.7%

GLDG opened at $0.96 on Friday. GoldMining Inc. has a twelve month low of $0.78 and a twelve month high of $2.27. The company has a fifty day moving average of $0.92 and a 200-day moving average of $1.22. The stock has a market cap of $207.26 million, a PE ratio of -12.06 and a beta of 1.21.

Analyst Upgrades and Downgrades

GLDG has been the topic of a number of recent research reports. Zacks Research lowered GoldMining from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. HC Wainwright cut their price target on shares of GoldMining from $3.75 to $2.75 and set a "buy" rating on the stock in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, GoldMining has a consensus rating of "Hold" and a consensus target price of $2.77.

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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