176,014 Shares in U.S. GoldMining Inc. $USGO Bought by BlackRock Inc.

Key Points

• BlackRock acquired 176,014 shares of U.S. GoldMining in the second quarter, valued at approximately $1.43 million and representing about 1.32% of the company.
• Analyst sentiment is mixed: HC Wainwright maintained a “Buy” rating with a $30.75 price target, while other services issued “Sell” or “Strong Sell” ratings. The consensus rating is “Hold.”
• U.S. GoldMining shares opened at $8.45, near their 50-day average of $8.39 and below their 200-day average of $10.32. The company reported a quarterly loss of $0.36 per share and is expected to post a full-year loss of $0.49 per share.

BlackRock Inc. purchased a new stake in U.S. GoldMining Inc. (NASDAQ:USGO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 176,014 shares of the company's stock, valued at approximately $1,431,000. BlackRock Inc. owned about 1.32% of U.S. GoldMining at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of U.S. GoldMining by 57.3% during the fourth quarter. Barclays PLC now owns 3,730 shares of the company's stock worth $33,000 after purchasing an additional 1,358 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of U.S. GoldMining by 46.1% in the 4th quarter. Wells Fargo & Company MN now owns 4,150 shares of the company's stock valued at $37,000 after purchasing an additional 1,310 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of U.S. GoldMining by 219.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,722 shares of the company's stock valued at $50,000 after purchasing an additional 3,933 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of U.S. GoldMining in the 2nd quarter valued at about $93,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of U.S. GoldMining in the 4th quarter valued at about $131,000. Institutional investors and hedge funds own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on USGO shares. Wall Street Zen lowered U.S. GoldMining from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. HC Wainwright reiterated a "buy" rating and issued a $30.75 price objective on shares of U.S. GoldMining in a research note on Thursday, June 25th. Finally, Weiss Ratings downgraded U.S. GoldMining from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.75.

U.S. GoldMining Stock Performance

NASDAQ USGO opened at $8.45 on Monday. The firm's fifty day moving average is $8.39 and its two-hundred day moving average is $10.32. U.S. GoldMining Inc. has a one year low of $7.16 and a one year high of $17.98. The firm has a market cap of $118.64 million, a PE ratio of -9.71 and a beta of 1.88.

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

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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