HC Wainwright Reiterates Buy Rating for U.S. GoldMining (NASDAQ:USGO)

Key Points

• HC Wainwright reiterated a Buy rating on U.S. GoldMining and maintained a $30.75 price target, implying approximately 260% upside from the prior close.
• Analyst sentiment remains mixed: one analyst rates the stock Buy and another Sell, resulting in a consensus rating of Hold with a $30.75 target.
• U.S. GoldMining reported a quarterly loss of $0.36 per share, while institutional ownership remains limited at 0.49%; the company is advancing gold projects in Utah, Brazil, and Wyoming.

U.S. GoldMining (NASDAQ:USGO - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $30.75 price objective on the stock. HC Wainwright's target price would indicate a potential upside of 260.07% from the company's previous close.

USGO has been the topic of a number of other research reports. Wall Street Zen lowered U.S. GoldMining from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Weiss Ratings downgraded U.S. GoldMining from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $30.75.

U.S. GoldMining Stock Performance

Shares of U.S. GoldMining stock opened at $8.54 on Wednesday. U.S. GoldMining has a one year low of $7.16 and a one year high of $17.98. The company has a market cap of $119.90 million, a P/E ratio of -9.82 and a beta of 1.88. The firm has a fifty day moving average of $8.40 and a two-hundred day moving average of $10.29.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.36) earnings per share (EPS) for the quarter. As a group, equities analysts predict that U.S. GoldMining will post -0.49 earnings per share for the current year.

Institutional Trading of U.S. GoldMining

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of U.S. GoldMining in the second quarter valued at $1,431,000. Renaissance Technologies LLC grew its stake in U.S. GoldMining by 148.6% in the 4th quarter. Renaissance Technologies LLC now owns 73,100 shares of the company's stock valued at $645,000 after acquiring an additional 43,700 shares during the last quarter. Geode Capital Management LLC grew its stake in U.S. GoldMining by 14.8% in the 4th quarter. Geode Capital Management LLC now owns 59,576 shares of the company's stock valued at $526,000 after acquiring an additional 7,667 shares during the last quarter. GSA Capital Partners LLP acquired a new position in U.S. GoldMining during the second quarter worth about $264,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of U.S. GoldMining in the fourth quarter valued at about $181,000. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

U.S. GoldMining Company Profile

U.S. GoldMining Inc is a mineral exploration and development company focused on the acquisition, exploration and advancement of gold assets in the Americas. The company's flagship project is West Desert, located in Utah's Great Basin region, where it has completed detailed technical studies and resource modeling. In addition to West Desert, U.S. GoldMining has recently added the Colossus gold project in Pará State, Brazil, to its portfolio and holds interests in the Copper King deposit in Wyoming.

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