GoldMining (NYSEAMERICAN:GLDG) Stock Price Down 0.9% – Here’s Why

GoldMining Inc. (NYSEAMERICAN:GLDG) shares fell 0.9% during mid-day trading on Wednesday . The stock traded as low as $0.81 and last traded at $0.82. 349,343 shares traded hands during trading, a decline of 37% from the average session volume of 551,649 shares. The stock had previously closed at $0.83.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright decreased their target price on shares of GoldMining from $5.50 to $3.25 and set a “buy” rating on the stock in a research report on Friday, February 28th.

GoldMining Price Performance

The stock has a market cap of $160.62 million, a P/E ratio of -8.20 and a beta of 1.07.

Hedge Funds Weigh In On GoldMining

Several institutional investors and hedge funds have recently bought and sold shares of GLDG. Total Wealth Planning & Management Inc. acquired a new position in GoldMining in the fourth quarter valued at $35,000. Jacobi Capital Management LLC purchased a new position in shares of GoldMining in the 4th quarter worth about $40,000. Sprott Inc. lifted its stake in shares of GoldMining by 270.9% in the 4th quarter. Sprott Inc. now owns 333,778 shares of the company’s stock valued at $269,000 after purchasing an additional 243,778 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of GoldMining by 1.0% during the 4th quarter. Van ECK Associates Corp now owns 9,240,333 shares of the company’s stock worth $7,438,000 after purchasing an additional 86,964 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in GoldMining during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 11.25% of the company’s stock.

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.