US Gold (NASDAQ:USAU) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded US Gold from “hold” to “strong sell,” while other analysts maintain mixed views; the stock has an overall “hold” rating and a $26.75 average price target.
• US Gold shares opened at $11.94, down 10.4%, near the company’s 52-week low of $11.65 and below its 50- and 200-day moving averages of roughly $15.20 and $15.33.
• The company reported a quarterly loss of $0.28 per share, beating estimates for a $0.42 loss, while analysts forecast a full-year loss of $1.07 per share. Institutional investors own 6.64% of the stock.

US Gold (NASDAQ:USAU - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday, Zacks reports.

Several other research analysts have also recently issued reports on USAU. Wall Street Zen raised US Gold from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of US Gold in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $26.75.

US Gold Trading Down 10.4%

Shares of USAU opened at $11.94 on Tuesday. US Gold has a 1-year low of $11.65 and a 1-year high of $23.75. The company has a 50-day moving average of $15.20 and a 200 day moving average of $15.33.

US Gold (NASDAQ:USAU - Get Free Report) last issued its earnings results on Friday, September 11th. The technology company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.14. Equities research analysts predict that US Gold will post -1.07 EPS for the current year.

Institutional Investors Weigh In On US Gold

Hedge funds have recently modified their holdings of the business. Up Capital Management Inc. bought a new position in shares of US Gold in the 4th quarter worth $5,157,000. William Mack & Associates Inc. purchased a new stake in shares of US Gold during the second quarter valued at about $1,380,000. Renaissance Technologies LLC purchased a new stake in shares of US Gold during the first quarter valued at about $694,000. Bank of New York Mellon Corp bought a new stake in shares of US Gold in the 2nd quarter valued at about $489,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in US Gold in the fourth quarter worth $105,000. Hedge funds and other institutional investors own 6.64% of the company's stock.

US Gold Company Profile

U.S. Gold Corp. NASDAQ: USAU is a mineral exploration and development company focused on identifying and advancing gold and copper properties in the United States. The company does not operate as a producing mining company; its activities primarily include geological evaluation, drilling, resource exploration, permitting and project development.

The company's principal asset is the CK Gold Project in southeastern Wyoming, a copper-gold exploration and development property located near Cheyenne.

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