GoldMining (NYSEAMERICAN:GLDG) Shares Down 1.6% - Here's Why

Key Points

• Shares down 1.6% to $1.20 on Friday with 1.275 million shares traded, a 32% decline from average session volume and down from a $1.22 close.
• Analysts remain positive: Roth MKM reiterated a "buy" with a $2.80 target, and the consensus rating is Moderate Buy with an average price target of $3.28.
• Several institutions materially increased stakes (notably Millennium, Jane Street, and Trek Financial), and institutional ownership now stands at 11.25%.

Shares of GoldMining Inc. (NYSEAMERICAN:GLDG - Get Free Report) fell 1.6% on Friday . The company traded as low as $1.20 and last traded at $1.20. 1,275,082 shares traded hands during trading, a decline of 32% from the average session volume of 1,864,161 shares. The stock had previously closed at $1.22.

Analysts Set New Price Targets

Separately, Roth Mkm reiterated a "buy" rating and set a $2.80 price target on shares of GoldMining in a report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3.28.

GoldMining Stock Down 1.6%

The stock's 50-day moving average is $1.37 and its 200 day moving average is $1.43. The stock has a market capitalization of $256.80 million, a PE ratio of -20.00 and a beta of 1.24.

Institutional Trading of GoldMining

Several large investors have recently modified their holdings of GLDG. Trek Financial LLC bought a new stake in shares of GoldMining during the 4th quarter worth $3,192,000. Millennium Management LLC boosted its holdings in shares of GoldMining by 1,840.6% during the 4th quarter. Millennium Management LLC now owns 1,828,678 shares of the company's stock worth $2,286,000 after buying an additional 1,734,445 shares during the period. Jane Street Group LLC boosted its holdings in shares of GoldMining by 350.5% during the 4th quarter. Jane Street Group LLC now owns 751,505 shares of the company's stock worth $939,000 after buying an additional 584,705 shares during the period. 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 worth $334,000 after buying an additional 370,556 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of GoldMining by 204.6% during the 3rd quarter. Bank of America Corp DE now owns 393,604 shares of the company's stock worth $484,000 after buying an additional 264,400 shares during the period. 11.25% of the stock is owned by institutional investors.

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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