GoldMining (NYSEAMERICAN:GLDG) Upgraded to Strong-Buy at Ventum Financial

Ventum Financial upgraded shares of GoldMining (NYSEAMERICAN:GLDG) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks reports.

GLDG has been the topic of several other reports. HC Wainwright lowered their price target on GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a research note on Friday, July 17th. Zacks Research lowered GoldMining from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, GoldMining presently has a consensus rating of “Moderate Buy” and an average price target of $2.77.

GoldMining Price Performance

Shares of GoldMining stock opened at $1.03 on Tuesday. GoldMining has a fifty-two week low of $0.80 and a fifty-two week high of $2.27. The firm has a fifty day moving average price of $0.95 and a two-hundred day moving average price of $1.14. The company has a market cap of $221.24 million, a PE ratio of -12.88 and a beta of 1.27.

Hedge Funds Weigh In On GoldMining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in GoldMining by 572.7% during the first quarter. Renaissance Technologies LLC now owns 3,894,861 shares of the company’s stock worth $4,635,000 after buying an additional 3,315,830 shares during the last quarter. Trek Financial LLC bought a new position in shares of GoldMining in the fourth quarter valued at approximately $3,192,000. Millennium Management LLC raised its stake in shares of GoldMining by 1,840.6% in the fourth quarter. Millennium Management LLC now owns 1,828,678 shares of the company’s stock valued at $2,286,000 after acquiring an additional 1,734,445 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of GoldMining in the 2nd quarter worth approximately $797,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of GoldMining by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,996 shares of the company’s stock worth $1,021,000 after acquiring an additional 107,605 shares in the last quarter. 11.25% of the stock is currently owned by institutional investors and hedge funds.

About GoldMining

GoldMining Inc is a Canada-based mineral exploration and development company focused on the acquisition and advancement of precious metal projects in the Americas. Publicly traded on the NYSE American under the symbol GLDG, the company targets high-quality gold assets with the potential for significant resource expansion. GoldMining seeks to identify projects at various stages, from early exploration to advanced development, and apply systematic drilling and metallurgical testing to enhance their economic prospects.

The company’s portfolio encompasses a diversified suite of properties across North and South America.