Market cap of GoldMining Inc. [GLDG] reaches 219.78M – now what?


GoldMining Inc. [AMEX: GLDG] surged by $0.14 during the normal trading session on Wednesday and reaching a high of $1.56 during the day while it closed the day at $1.47. The company report on December 10, 2021 that GoldMining Inc. Announces At-the-Market Equity Program.

GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) (“GoldMining” or the “Company”) is pleased to announce that it has entered into an equity distribution agreement (the “Distribution Agreement”) with a syndicate of agents led by BMO Nesbitt Burns Inc., and including BMO Capital Markets Corp., H.C. Wainwright & Co. LLC, Haywood Securities, Laurentian Bank Securities Inc. and Roth Capital Partners, LLC (collectively, the “Agents”), for an at-the-market equity program (the “ATM Program”).

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The Distribution Agreement will allow the Company to distribute up to US$50 million (or the equivalent in Canadian dollars) of common shares of the Company (the “Offered Shares”) under the ATM Program. The Offered Shares will be issued by the Company to the public from time to time, through the Agents, at the Company’s discretion. The Offered Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale.

GoldMining Inc. stock has also gained 28.95% of its value over the past 7 days. However, GLDG stock has inclined by 20.49% in the 3 months of the year. Over the past six months meanwhile, it has gained 7.30% and gained 22.50% year-on date.

The market cap for GLDG stock reached $219.78 million, with 149.51 million shares outstanding and 140.60 million shares in the current float. Compared to the average trading volume of 403.32K shares, GLDG reached a trading volume of 3748531 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about GoldMining Inc. [GLDG]:

The Average True Range (ATR) for GoldMining Inc. is set at 0.10 The Price to Book ratio for the last quarter was 3.60.

GLDG stock trade performance evaluation

GoldMining Inc. [GLDG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.95. With this latest performance, GLDG shares gained by 18.55% in over the last four-week period, additionally plugging by 7.30% over the last 6 months – not to mention a drop of -36.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GLDG stock in for the last two-week period is set at 66.22, with the RSI for the last a single of trading hit 73.28, and the three-weeks RSI is set at 61.50 for GoldMining Inc. [GLDG]. The present Moving Average for the last 50 days of trading for this stock 1.3134, while it was recorded at 1.3100 for the last single week of trading, and 1.4082 for the last 200 days.

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GoldMining Inc. [GLDG]: Insider Ownership positions

There are presently around $17 million, or 10.38% of GLDG stock, in the hands of institutional investors. The top three institutional holders of GLDG stocks are: VAN ECK ASSOCIATES CORP with ownership of 8,498,895, which is approximately -5.633% of the company’s market cap and around 5.91% of the total institutional ownership; RUFFER LLP, holding 2,501,996 shares of the stock with an approximate value of $3.33 million in GLDG stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $0.25 million in GLDG stock with ownership of nearly New of the company’s market capitalization.

14 institutional holders increased their position in GoldMining Inc. [AMEX:GLDG] by around 464,332 shares. Additionally, 17 investors decreased positions by around 1,111,339 shares, while 20 investors held positions by with 10,878,351 shares. The mentioned changes placed institutional holdings at 12,454,022 shares, according to the latest SEC report filing. GLDG stock had 11 new institutional investments in for a total of 388,259 shares, while 8 institutional investors sold positions of 248,786 shares during the same period.