Cibc World Market Inc. Makes New Investment in GoldMining Inc. $GLDG

Cibc World Market Inc. purchased a new stake in shares of GoldMining Inc. (NYSEAMERICAN:GLDG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 590,955 shares of the company’s stock, valued at approximately $533,000. Cibc World Market Inc. owned 0.28% of GoldMining at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLDG. Renaissance Technologies LLC grew its holdings in GoldMining by 572.7% during the 1st quarter. Renaissance Technologies LLC now owns 3,894,861 shares of the company’s stock worth $4,635,000 after acquiring an additional 3,315,830 shares during the last quarter. Trek Financial LLC acquired a new position in shares of GoldMining during the fourth quarter worth $3,192,000. Goldman Sachs Group Inc. lifted its holdings in shares of GoldMining by 15.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,996 shares of the company’s stock worth $1,021,000 after purchasing an additional 107,605 shares during the period. Themes Management Co LLC bought a new stake in shares of GoldMining in the fourth quarter worth $42,000. Finally, Prospera Financial Services Inc acquired a new stake in GoldMining in the fourth quarter valued at $125,000. 11.25% of the stock is owned by institutional investors and hedge funds.

GoldMining Stock Down 4.4%

GLDG opened at $1.09 on Friday. GoldMining Inc. has a twelve month low of $0.80 and a twelve month high of $2.27. The company has a fifty day moving average of $0.95 and a 200-day moving average of $1.15. The stock has a market cap of $234.13 million, a PE ratio of -13.62 and a beta of 1.21.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GLDG shares. Zacks Research lowered GoldMining from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. HC Wainwright reduced their price target on GoldMining from $3.75 to $2.75 and set a “buy” rating on the stock in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.77.

GoldMining 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.