GoldMining (NYSEAMERICAN:GLDG) Stock Price Down 1.7% - Here's What Happened

Key Points

• GoldMining shares fell 1.7% to $0.7401, with trading volume 34% above the daily average. The company’s market capitalization is approximately $159.5 million.
• Analysts remain generally bullish, with a consensus “Buy” rating and an average price target of $2.77, despite HC Wainwright lowering its target from $3.75 to $2.75.
• Institutional ownership stands at 11.25%, with several investors recently initiating or increasing positions, including IPG Investment Advisors, Bank of America, and CIBC World Markets.

Shares of GoldMining Inc. (NYSEAMERICAN:GLDG - Get Free Report) traded down 1.7% on Monday. The stock traded as low as $0.7210 and last traded at $0.7401. 737,798 shares traded hands during trading, an increase of 34% from the average daily volume of 551,940 shares. The stock had previously closed at $0.7527.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GLDG shares. HC Wainwright decreased their target price on shares of GoldMining from $3.75 to $2.75 and set a "buy" rating on the stock in a research report on Friday, July 17th. Zacks Research upgraded shares of GoldMining from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 15th. Finally, Ventum Financial raised shares of GoldMining to a "strong-buy" rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, GoldMining currently has a consensus rating of "Buy" and an average price target of $2.77.

GoldMining Trading Down 1.7%

The firm has a market capitalization of $159.48 million, a PE ratio of -6.17 and a beta of 1.26. The firm has a 50-day moving average of $0.98 and a two-hundred day moving average of $1.17.

Institutional Investors Weigh In On GoldMining

Institutional investors have recently added to or reduced their stakes in the company. Pacific Excel Wealth Advisors Inc. purchased a new position in shares of GoldMining in the 2nd quarter worth about $27,000. IPG Investment Advisors LLC lifted its stake in shares of GoldMining by 182.5% in the 2nd quarter. IPG Investment Advisors LLC now owns 72,050 shares of the company's stock valued at $65,000 after purchasing an additional 46,550 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of GoldMining in the 1st quarter valued at about $69,000. Bank of America Corp DE acquired a new position in shares of GoldMining in the 2nd quarter valued at about $379,000. Finally, Cibc World Market Inc. purchased a new stake in shares of GoldMining during the 2nd quarter worth about $533,000. Hedge funds and other institutional investors own 11.25% of the company's stock.

About GoldMining

GoldMining Inc is a mineral exploration and development company focused on acquiring and advancing gold projects in the Americas. The company does not operate as a gold producer; instead, it evaluates exploration opportunities, conducts technical and development studies, and works to expand the mineral potential of its project portfolio.

GoldMining's assets include the Yellowknife Gold Project in Canada, the Whistler project in Alaska, and several projects in South America, including properties in Brazil, Colombia and Peru.

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