GoldMining Inc. (NYSEAMERICAN:GLDG) Sees Large Drop in Short Interest

GoldMining Inc. (NYSEAMERICAN:GLDG) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 2,220,000 shares, a decline of 10.1% from the September 15th total of 2,470,000 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average trading volume of 623,800 shares, the days-to-cover ratio is presently 3.6 days.

Institutional Trading of GoldMining

A hedge fund recently raised its stake in GoldMining stock. Renaissance Technologies LLC increased its holdings in shares of GoldMining Inc. (NYSEAMERICAN:GLDG) by 1,564.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,200 shares of the company’s stock after acquiring an additional 273,700 shares during the period. Renaissance Technologies LLC owned approximately 0.15% of GoldMining worth $260,000 as of its most recent SEC filing. Institutional investors own 11.25% of the company’s stock.

GoldMining Stock Performance

NYSEAMERICAN GLDG traded up $0.02 during trading on Wednesday, reaching $0.96. The company’s stock had a trading volume of 307,997 shares, compared to its average volume of 497,456. GoldMining has a twelve month low of $0.75 and a twelve month high of $1.08. The firm has a market cap of $182.61 million, a PE ratio of -9.56 and a beta of 1.10.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $5.25 price objective on shares of GoldMining in a research report on Friday, August 30th.

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.