GoldMining (NYSEAMERICAN:GLDG) Price Target Cut to $2.75 by Analysts at HC Wainwright

GoldMining (NYSEAMERICAN:GLDG) had its price target decreased by HC Wainwright from $3.75 to $2.75 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 235.98% from the stock’s current price.

GoldMining Price Performance

NYSEAMERICAN:GLDG opened at $0.82 on Friday. The company has a market cap of $175.64 million, a price-to-earnings ratio of -10.23 and a beta of 1.20. The stock’s 50 day simple moving average is $1.00 and its two-hundred day simple moving average is $1.27. GoldMining has a 1 year low of $0.75 and a 1 year high of $2.27.

Hedge Funds Weigh In On GoldMining

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of GoldMining by 572.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,894,861 shares of the company’s stock valued at $4,635,000 after purchasing an additional 3,315,830 shares in the last quarter. Trek Financial LLC purchased a new stake in GoldMining during the 4th quarter valued at about $3,192,000. Millennium Management LLC increased its holdings in GoldMining by 1,840.6% in the 4th quarter. Millennium Management LLC now owns 1,828,678 shares of the company’s stock worth $2,286,000 after buying an additional 1,734,445 shares during the period. Goldman Sachs Group Inc. boosted its holdings in GoldMining by 15.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 816,996 shares of the company’s stock valued at $1,021,000 after purchasing an additional 107,605 shares during the last quarter. Finally, Jane Street Group LLC raised its position in GoldMining by 350.5% during the fourth quarter. Jane Street Group LLC now owns 751,505 shares of the company’s stock valued at $939,000 after acquiring an additional 584,705 shares in the last quarter. 11.25% of the stock is currently owned by institutional investors.

GoldMining Company Profile

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.