U.S. GoldMining (NASDAQ:USGO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded U.S. GoldMining from “strong sell” to “sell,” while analyst opinions remain mixed; the stock has a consensus “Hold” rating and a $30.75 average price target.
• USGO opened at $4.55, near its 52-week low of $4.35 and well below its 52-week high of $17.98. Its 50-day and 200-day moving averages were $7.45 and $9.07, respectively.
• The company reported a quarterly loss of $0.36 per share, and analysts expect a full-year loss of $0.67 per share. U.S. GoldMining is focused on developing its Whistler gold-copper project in Alaska.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of U.S. GoldMining in a research note on Friday, September 25th. HC Wainwright reiterated a "buy" rating and set a $30.75 price objective on shares of U.S. GoldMining in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $30.75.

U.S. GoldMining Price Performance

USGO opened at $4.55 on Friday. U.S. GoldMining has a fifty-two week low of $4.35 and a fifty-two week high of $17.98. The company's 50 day moving average price is $7.45 and its two-hundred day moving average price is $9.07.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.36) earnings per share (EPS) for the quarter. Equities research analysts predict that U.S. GoldMining will post -0.67 EPS for the current year.

Hedge Funds Weigh In On U.S. GoldMining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USGO. Themes Management Co LLC bought a new position in U.S. GoldMining in the 1st quarter worth about $139,000. International Assets Investment Management LLC bought a new stake in shares of U.S. GoldMining during the 1st quarter valued at about $161,000. GSA Capital Partners LLP bought a new stake in shares of U.S. GoldMining during the 2nd quarter valued at about $264,000. Finally, BlackRock Inc. purchased a new position in shares of U.S. GoldMining during the second quarter worth about $1,431,000. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

About U.S. GoldMining

U.S. GoldMining Inc is a mineral exploration and development company focused on advancing the Whistler gold-copper project in Alaska. The company's activities include exploration, resource evaluation, technical studies and project development, rather than the production or sale of finished products.

The Whistler project is located in the Yentna mining district of south-central Alaska, approximately 150 miles northwest of Anchorage. The property contains multiple mineralized deposits and prospective exploration targets featuring gold, copper and silver.

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