HC Wainwright Issues Pessimistic Forecast for GoldMining (NYSEAMERICAN:GLDG) Stock Price

GoldMining (NYSEAMERICAN:GLDG) had its price target reduced by equities research analysts at HC Wainwright from $5.50 to $3.25 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 306.25% from the stock’s current price.

GoldMining Price Performance

GLDG opened at $0.80 on Friday. GoldMining has a fifty-two week low of $0.75 and a fifty-two week high of $1.06. The firm has a market cap of $156.74 million, a PE ratio of -8.00 and a beta of 1.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in GoldMining in the third quarter valued at about $32,000. Total Wealth Planning & Management Inc. acquired a new position in GoldMining in the fourth quarter valued at about $35,000. Jacobi Capital Management LLC bought a new position in GoldMining in the fourth quarter valued at about $40,000. JPMorgan Chase & Co. bought a new position in GoldMining in the third quarter valued at about $42,000. Finally, SageView Advisory Group LLC bought a new position in GoldMining in the third quarter valued at about $76,000. 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.