GoldMining Inc. (NYSEAMERICAN:GLDG) Short Interest Down 12.1% in October

GoldMining Inc. (NYSEAMERICAN:GLDG) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,810,000 shares, a drop of 12.1% from the October 15th total of 2,060,000 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 749,200 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On GoldMining

Institutional investors have recently modified their holdings of the stock. Grimes & Company Inc. bought a new stake in shares of GoldMining during the 3rd quarter valued at about $32,000. SageView Advisory Group LLC acquired a new stake in shares of GoldMining in the 3rd quarter worth approximately $76,000. Renaissance Technologies LLC lifted its stake in shares of GoldMining by 1,564.0% in the 2nd quarter. Renaissance Technologies LLC now owns 291,200 shares of the company’s stock worth $260,000 after acquiring an additional 273,700 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of GoldMining by 0.8% in the 3rd quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company’s stock worth $8,968,000 after acquiring an additional 74,318 shares during the period. Institutional investors and hedge funds own 11.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

GoldMining Price Performance

Shares of NYSEAMERICAN GLDG remained flat at $0.92 during trading on Monday. 942,253 shares of the stock traded hands, compared to its average volume of 531,595. GoldMining has a one year low of $0.75 and a one year high of $1.08. The stock has a market cap of $176.27 million, a PE ratio of -9.20 and a beta of 1.10.

GoldMining (NYSEAMERICAN:GLDG) last posted its earnings results on Friday, October 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). On average, sell-side analysts forecast that GoldMining will post -0.06 earnings per share for the current fiscal year.

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.