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GoldMining Inc. (AMEX: GLDG) Drops -70.8% From Highs, What Happens Next?

GoldMining Inc. (AMEX:GLDG)’s traded shares stood at 2.72 million during the last session. At the close of trading, the stock’s price was $1.13, to imply an increase of 9.71% or $0.1 in intraday trading. The GLDG share’s 52-week high remains $1.93, putting it -70.8% down since that peak but still an impressive 32.74% since price per share fell to its 52-week low of $0.76. The company has a valuation of $189.98M, with an average of 0.64 million shares in intraday trading volume over the past 10 days and average of 842.67K shares over the past 3 months.

GoldMining Inc. (AMEX:GLDG) trade information

After registering a 9.71% upside in the last session, GoldMining Inc. (GLDG) has traded red over the past five days. The stock hit a weekly high of 1.1500 this Friday, 03/17/23, jumping 9.71% in its intraday price action. The 5-day price performance for the stock is 16.26%, and 1.80% over 30 days. With these gigs, the year-to-date price performance is 0.00%. Short interest in GoldMining Inc. (AMEX:GLDG) saw shorts transact 3.49 million shares and set a 3.13 days time to cover.

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Analysts on Wall Street suggest a consensus price target of $3.47, implying an increase of 67.44% to the stock’s current value. The extremes give us $2.06 and $5.25 for target low and target high price respectively. As such, GLDG has been trading -364.6% off suggested target high and -82.3% from its likely low.

GoldMining Inc. (GLDG) estimates and forecasts

Looking at statistics comparing GoldMining Inc. share performance against respective industry, we note that the company has outperformed competitors. GoldMining Inc. (GLDG) shares are 29.89% up over the last 6 months, with its year-to-date growth rate higher than industry average at 28.57% against 10.00%.

GLDG Dividends

GoldMining Inc. has its next earnings report out on February 28. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. GoldMining Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

GoldMining Inc. (AMEX:GLDG)’s Major holders

GoldMining Inc. insiders hold 4.78% of total outstanding shares, with institutional holders owning 8.39% of the shares at 8.81% float percentage. In total, 8.39% institutions holds shares in the company, led by Van Eck Associates Corporation. As of Dec 30, 2022, the company held over 8.43 million shares (or 5.07% of shares), all amounting to roughly $9.52 million.

The next major institution holding the largest number of shares is Ruffer LLP with 2.5 million shares, or about 1.50% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $2.08 million.

We also have VanEck ETF Trust-VanEck Junior Gold Miners ETF and SPDR Portfolio Developed World ex-US ETF as the top two Mutual Funds with the largest holdings of the GoldMining Inc. (GLDG) shares. Going by data provided on Dec 30, 2022, VanEck ETF Trust-VanEck Junior Gold Miners ETF holds roughly 7.59 million shares. This is just over 4.56% of the total shares, with a market valuation of $8.58 million. Data from the same date shows that the other fund manager holds a little less at 0.26 million, or 0.16% of the shares, all valued at about 0.3 million.

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