GoldMining (NYSEAMERICAN:GLDG) Cut to "Hold" at Zacks Research

Key Points

• GoldMining has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, indicating a shift in market confidence.
• The company's stock currently trades at $1.19 with significant institutional activity, including a 100% increase in holdings by Simplicity Wealth LLC.
• GoldMining focuses on mineral exploration and development across the Americas, with key projects located in Colombia, Alaska, and Brazil.

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

GoldMining Trading Up 1.7%

GoldMining stock traded up $0.02 during midday trading on Monday, reaching $1.17. The company's stock had a trading volume of 2,525,805 shares, compared to its average volume of 1,839,402. GoldMining has a 52 week low of $0.71 and a 52 week high of $1.34. The business has a 50-day moving average price of $0.91 and a 200-day moving average price of $0.83. The stock has a market cap of $234.27 million, a PE ratio of -13.00 and a beta of 0.95.

Hedge Funds Weigh In On GoldMining

Several institutional investors have recently modified their holdings of GLDG. Marshall Wace LLP grew its position 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. Goldman Sachs Group Inc. increased its position in 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. Baader Bank Aktiengesellschaft purchased a new stake in GoldMining in the first quarter worth about $82,000. Jane Street Group LLC bought a new position in shares of GoldMining in the first quarter worth about $77,000. Finally, Bank of America Corp DE boosted its stake in 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 buying an additional 47,595 shares during the last quarter. 11.25% of the stock is currently owned by institutional investors.

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.