GoldMining (NYSEAMERICAN:GLDG) Price Target Cut to $2.75 by Analysts at HC Wainwright

Key Points

• HC Wainwright cut its price target on GoldMining from $3.75 to $2.75, while keeping a buy rating on the stock.
• The new target still implies a large upside of about 235.98% from GoldMining’s previous close, even after the reduction.
• GoldMining shares opened at $0.82 and the company continues to attract institutional interest, with hedge funds and other investors owning about 11.25% of the stock.

GoldMining (NYSEAMERICAN:GLDG - Get Free Report) had its target price lowered by investment analysts at HC Wainwright from $3.75 to $2.75 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 235.98% from the stock's previous close.

GoldMining Stock Performance

GoldMining stock opened at $0.82 on Friday. GoldMining has a 1 year low of $0.75 and a 1 year high of $2.27. The firm's 50-day moving average is $1.00 and its 200-day moving average is $1.27. The company has a market cap of $175.64 million, a P/E ratio of -10.23 and a beta of 1.20.

Hedge Funds Weigh In On GoldMining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLDG. Trek Financial LLC bought a new stake in GoldMining during the 4th quarter worth about $3,192,000. Goldman Sachs Group Inc. raised its stake in shares of GoldMining by 15.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 816,996 shares of the company's stock worth $1,021,000 after acquiring an additional 107,605 shares during the last quarter. Millennium Management LLC raised its stake in shares of GoldMining by 1,840.6% in the fourth quarter. Millennium Management LLC now owns 1,828,678 shares of the company's stock worth $2,286,000 after acquiring an additional 1,734,445 shares during the last quarter. Jane Street Group LLC raised its stake in shares of GoldMining by 350.5% in the fourth quarter. Jane Street Group LLC now owns 751,505 shares of the company's stock worth $939,000 after acquiring an additional 584,705 shares during the last quarter. Finally, XTX Topco Ltd lifted its position in shares of GoldMining by 196.9% during the fourth quarter. XTX Topco Ltd now owns 330,803 shares of the company's stock worth $414,000 after purchasing an additional 219,392 shares in the last quarter. Hedge funds and other institutional investors own 11.25% of the company's stock.

GoldMining Company Profile

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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