GoldMining (NYSEAMERICAN:GLDG) Stock Price Down 1.7% – Here’s Why

GoldMining Inc. (NYSEAMERICAN:GLDG) shares were down 1.7% on Wednesday . The company traded as low as $0.93 and last traded at $0.94. Approximately 562,866 shares traded hands during trading, an increase of 12% from the average daily volume of 501,277 shares. The stock had previously closed at $0.96.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed 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

The company has a market cap of $177.94 million, a PE ratio of -9.43 and a beta of 1.09.

GoldMining (NYSEAMERICAN:GLDG) last announced its quarterly earnings results on Friday, July 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). On average, equities analysts anticipate that GoldMining Inc. will post -0.08 earnings per share for the current year.

Institutional Trading of GoldMining

A hedge fund recently raised its stake in GoldMining stock. Van ECK Associates Corp boosted its position in shares of GoldMining Inc. (NYSEAMERICAN:GLDG) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,553,990 shares of the company’s stock after acquiring an additional 137,972 shares during the period. Van ECK Associates Corp owned 5.16% of GoldMining worth $8,360,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 11.25% of the company’s stock.

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.