GoldMining (NYSEAMERICAN:GLDG) Trading Up 5% - Time to Buy?

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 - ) shares were up 5% during mid-day trading on Monday . The stock 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.

GoldMining Trading Up 5.0%

The company has a market capitalization of $250.29 million, a price-to-earnings ratio of -13.89 and a beta of 0.95. The firm's 50 day simple moving average is $0.88 and its 200-day simple moving average is $0.82.

Hedge Funds Weigh In On GoldMining

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP increased its stake in GoldMining by 396.0% in the 2nd quarter. Marshall Wace LLP now owns 464,140 shares of the company's stock valued at $334,000 after buying an additional 370,556 shares during the period. Goldman Sachs Group Inc. grew its stake 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 purchasing an additional 169,200 shares during the period. Bank of America Corp DE grew its stake in shares of GoldMining by 58.3% during the 2nd quarter. Bank of America Corp DE now owns 129,204 shares of the company's stock worth $93,000 after purchasing an additional 47,595 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of GoldMining during the 1st quarter worth $82,000. Finally, Jane Street Group LLC acquired a new position in shares of GoldMining during the 1st quarter worth $77,000. 11.25% of the stock is owned by institutional investors and hedge funds.

GoldMining Company Profile

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.

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