GoldMining (GLDG) Projected to Post Quarterly Earnings on Friday

Key Points

• GoldMining (GLDG) is set to announce its quarterly earnings on Friday, October 10th, with analysts predicting a loss of ($0.02) per share.
• The stock currently has a market cap of $244.28 million and has fluctuated between a 52-week low of $0.71 and a high of $1.34.
• Despite a downgrade to a "hold" rating from Zacks Research, analysts maintain a consensus rating of "Moderate Buy" with an average price target of $3.75.

GoldMining (NYSEAMERICAN:GLDG - Get Free Report) will likely be announcing its results before the market opens on Friday, October 10th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter.

GoldMining Stock Performance

NYSEAMERICAN GLDG opened at $1.22 on Friday. The stock has a market capitalization of $244.28 million, a price-to-earnings ratio of -13.56 and a beta of 1.01. GoldMining has a 52 week low of $0.71 and a 52 week high of $1.34. The stock's 50 day moving average price is $0.99 and its two-hundred day moving average price is $0.85.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GLDG. Zacks Research lowered GoldMining from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. HC Wainwright raised their price target on shares of GoldMining from $3.25 to $3.75 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $3.75.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of GoldMining by 58.3% during the second quarter. Bank of America Corp DE now owns 129,204 shares of the company's stock valued at $93,000 after purchasing an additional 47,595 shares in the last quarter. Jane Street Group LLC purchased a new stake in GoldMining in the 1st quarter valued at about $77,000. Goldman Sachs Group Inc. lifted its position 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 worth $269,000 after buying an additional 169,200 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of GoldMining by 396.0% in the 2nd quarter. Marshall Wace LLP now owns 464,140 shares of the company's stock worth $334,000 after buying an additional 370,556 shares during the last quarter. Hedge funds and other institutional investors own 11.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.