Short Interest in GoldMining Inc. (NYSEAMERICAN:GLDG) Drops By 10.3%

GoldMining Inc. (NYSEAMERICAN:GLDG) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,170,000 shares, a drop of 10.3% from the January 15th total of 2,420,000 shares. Based on an average daily volume of 577,900 shares, the days-to-cover ratio is currently 3.8 days. Approximately 1.2% of the shares of the company are short sold.

Hedge Funds Weigh In On GoldMining

Several institutional investors have recently made changes to their positions in GLDG. Grimes & Company Inc. bought a new position in shares of GoldMining during the third quarter worth about $32,000. Virtu Financial LLC acquired a new position in GoldMining during the 3rd quarter valued at about $32,000. JPMorgan Chase & Co. acquired a new position in GoldMining during the 3rd quarter valued at about $42,000. Jacobi Capital Management LLC bought a new position in GoldMining in the 4th quarter worth about $40,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of GoldMining in the third quarter valued at approximately $76,000. 11.25% of the stock is owned by institutional investors.

GoldMining Stock Up 2.5 %

GLDG traded up $0.02 on Tuesday, hitting $0.83. 428,155 shares of the company’s stock were exchanged, compared to its average volume of 356,163. GoldMining has a twelve month low of $0.75 and a twelve month high of $1.06. The firm has a market cap of $160.92 million, a price-to-earnings ratio of -8.26 and a beta of 1.07.

Analysts Set New Price Targets

Separately, HC Wainwright boosted their target price on shares of GoldMining from $5.25 to $5.50 and gave the company a “buy” rating in a research note on Thursday, December 5th.

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.