GoldMining Inc (NYSEAMERICAN:GLDG) Stock Continues to Trend Lower: Falls 27% In a Month
The situation with the GoldMining Inc (NYSEAMERICAN:GLDG) stock has continued to be tough for investors for several weeks and the trend continued last week as well. The stock suffered from a selloff yet again last week and went down by 6% for the period.
Market Stats
On Friday, GLDG stock moved down 2.56% at $1.14 with more than 322k shares, compared to its average volume of 351K shares. The stock has moved within a range of $1.1400 – 1.2000 after opening trading at $1.18.
GoldMining Inc. Announces At-the-Market Equity Program
In addition to that, it needs to be noted that in the past month the stock has declined by as much as 27%. In this context, it may be a good idea to take a look into the announcement made by the company on December 10. GoldMining announced that it had signed an equity distribution agreement with a consortium of agents.
The consortium is headed by BMO Nesbitt Burns Inc. Some of the other members of the consortium are Roth Capital Markets LLC, Haywood Securities and BMO Capital Markets Corp among others. The distribution agreement is an important one for the company since it is going to allow GoldMining to distribute shares worth as much as $50 million under the provisions of the ATM Program. At this point in time, it may be a good move for investors to keep an eye on the stock and its price action today.
Traders Corner
GLDG stock is trading below the 20-Day and 50-Day Moving averages of $1.31 and $1.35 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.45. The stock is down 22% in the past month.
