GoldMining (GLDG) Gets a Buy Rating from H.C. Wainwright

By Ryan Adsit

In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on GoldMining (GLDGResearch Report), with a price target of $5.75. The company’s shares closed last Thursday at $1.71.

According to TipRanks.com, Ihle is a top 25 analyst with an average return of 48.2% and a 66.7% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for GoldMining with a $5.75 average price target.

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Based on GoldMining’s latest earnings release for the quarter ending November 30, the company reported a quarterly GAAP net loss of $4.1 million. In comparison, last year the company had a GAAP net loss of $1.83 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GLDG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

GoldMining, Inc. engages in the acquisition, exploration, and development of mineral properties. The company operates through the following geographical segments: Canada, Brazil, United States, Paraguay, Colombia, and Peru. Its project portfolio includes Sao Jorge, Cachoeira, Boa Vista, Surubim, Batistao, Montes Aureos, Trinta, Whistler, Yellowknife Gold, Rea, La Mina, Titiribi, and Crucero. The company was founded by Amir Adnani on September 9, 2009 and is headquartered in Vancouver, Canada.