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

GoldMining Inc. (NYSEAMERICAN:GLDG) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,960,000 shares, a decline of 6.7% from the August 15th total of 2,100,000 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 461,700 shares, the days-to-cover ratio is presently 4.2 days.

Analyst Upgrades and Downgrades

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

GoldMining Price Performance

GLDG stock opened at $1.00 on Friday. The company has a market capitalization of $188.38 million, a PE ratio of -9.98 and a beta of 1.09. GoldMining has a 12 month low of $0.75 and a 12 month high of $1.08.

GoldMining (NYSEAMERICAN:GLDG) last announced its quarterly earnings results on Friday, July 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Equities research analysts predict that GoldMining will post -0.08 EPS for the current year.

Hedge Funds Weigh In On GoldMining

A hedge fund recently raised its stake in GoldMining stock. Renaissance Technologies LLC grew its holdings in shares of GoldMining Inc. (NYSEAMERICAN:GLDG) by 1,564.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 291,200 shares of the company’s stock after acquiring an additional 273,700 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of GoldMining worth $260,000 at the end of the most recent quarter. 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.