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

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

GoldMining Price Performance

NYSEAMERICAN:GLDG remained flat at $0.92 during trading hours on Monday. The company’s stock had a trading volume of 942,253 shares, compared to its average volume of 531,595. GoldMining has a 52-week low of $0.75 and a 52-week high of $1.08. The company has a market capitalization of $176.27 million, a PE ratio of -9.20 and a beta of 1.10.

GoldMining (NYSEAMERICAN:GLDG) last announced its quarterly earnings results on Friday, October 11th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). Equities research analysts forecast that GoldMining will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of GoldMining

Several large investors have recently made changes to their positions in GLDG. Renaissance Technologies LLC lifted its stake in shares of GoldMining by 1,564.0% during the second quarter. Renaissance Technologies LLC now owns 291,200 shares of the company’s stock valued at $260,000 after acquiring an additional 273,700 shares during the period. Grimes & Company Inc. acquired a new position in shares of GoldMining during the third quarter valued at $32,000. Van ECK Associates Corp lifted its stake in shares of GoldMining by 0.8% during the third quarter. Van ECK Associates Corp now owns 9,153,369 shares of the company’s stock valued at $8,968,000 after acquiring an additional 74,318 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of GoldMining during the third quarter valued at $76,000. 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.