GoldMining (NYSEAMERICAN:GLDG) Stock Price Up 5% - Here's Why

Key Points

• GoldMining Inc. shares rose 5% in Monday's trading, reaching a high of $1.30 before closing at $1.25.
• The company has a market capitalization of $250.29 million and a price-to-earnings ratio of -13.89.
• Institutional investors have significantly increased their stakes in GoldMining, with Marshall Wace LLP raising its investment by 396% in the latest quarter.

GoldMining Inc. (NYSEAMERICAN:GLDG - Get Free Report) shares were up 5% on Monday . The company traded as high as $1.30 and last traded at $1.25. Approximately 2,076,418 shares traded hands during mid-day trading, an increase of 30% from the average daily volume of 1,598,831 shares. The stock had previously closed at $1.19.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of GoldMining from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, GoldMining presently has a consensus rating of "Moderate Buy" and an average price target of $3.25.

GoldMining Trading Up 1.7%

The company's fifty day moving average is $0.91 and its 200 day moving average is $0.83. The company has a market cap of $234.27 million, a P/E ratio of -13.00 and a beta of 0.95.

Institutional Trading of GoldMining

Institutional investors and hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC increased its stake in GoldMining by 100.0% during the 2nd quarter. Simplicity Wealth LLC now owns 40,000 shares of the company's stock valued at $29,000 after purchasing an additional 20,000 shares in the last quarter. Total Wealth Planning & Management Inc. bought a new stake in GoldMining during the fourth quarter valued at approximately $35,000. Jane Street Group LLC bought a new stake in GoldMining during the first quarter valued at approximately $77,000. Baader Bank Aktiengesellschaft purchased a new position in GoldMining during the first quarter valued at approximately $82,000. Finally, Bank of America Corp DE lifted its holdings 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 purchasing an additional 47,595 shares in 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.