Zacks Research Downgrades GoldMining (NYSEAMERICAN:GLDG) to Hold

GoldMining (NYSEAMERICAN:GLDG) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

GoldMining Price Performance

Shares of NYSEAMERICAN GLDG opened at $1.19 on Monday. The company has a 50 day simple moving average of $0.89 and a 200 day simple moving average of $0.82. The firm has a market cap of $238.27 million, a PE ratio of -13.22 and a beta of 0.95. GoldMining has a 1 year low of $0.71 and a 1 year high of $1.34.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLDG. Marshall Wace LLP raised its holdings in GoldMining by 396.0% during the 2nd quarter. Marshall Wace LLP now owns 464,140 shares of the company’s stock worth $334,000 after purchasing an additional 370,556 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in GoldMining by 114.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 317,008 shares of the company’s stock worth $269,000 after purchasing an additional 169,200 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in GoldMining during the 1st quarter worth approximately $82,000. Jane Street Group LLC bought a new position in GoldMining during the 1st quarter worth approximately $77,000. Finally, Bank of America Corp DE increased its stake in shares of GoldMining by 58.3% in the 2nd quarter. Bank of America Corp DE now owns 129,204 shares of the company’s stock valued at $93,000 after acquiring an additional 47,595 shares in the last quarter. 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.