U.S. GoldMining (NASDAQ:USGO) Stock Price Down 2.7% - What's Next?

Key Points

• U.S. GoldMining shares fell 2.7% to $6.52 in midday trading, below their 50-day and 200-day moving averages of $8.16 and $9.66, respectively. The company has a market capitalization of approximately $91.5 million.
• Analyst sentiment is mixed: Wall Street Zen downgraded the stock to “strong sell,” while HC Wainwright maintained a “buy” rating with a $30.75 target. Overall, the stock carries a “Hold” consensus rating based on one Buy and one Sell rating.
• The exploration company reported a quarterly loss of $0.36 per share and is expected to post a full-year loss of $0.67 per share. U.S. GoldMining is focused on developing its Whistler Gold-Copper Project in Alaska and is not currently a commercial producer.

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report)'s stock price traded down 2.7% on Friday. The company traded as low as $6.50 and last traded at $6.52. 93,368 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 89,404 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

USGO has been the subject of several recent research reports. Wall Street Zen cut shares of U.S. GoldMining from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. HC Wainwright reaffirmed a "buy" rating and issued a $30.75 price target on shares of U.S. GoldMining in a report on Wednesday, September 9th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of U.S. GoldMining in a research report on Friday, September 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $30.75.

U.S. GoldMining Trading Down 2.7%

The firm's 50-day moving average is $8.16 and its two-hundred day moving average is $9.66. The stock has a market cap of $91.51 million, a price-to-earnings ratio of -7.49 and a beta of 1.98.

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

Institutional Inflows and Outflows

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

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 is not a producer and does not currently offer commercial mining products; its activities center on exploration, technical studies, resource evaluation and project development.

The Whistler project is located in southwestern Alaska, approximately 170 kilometers northwest of Anchorage. It comprises a large land package that includes the Whistler, Raintree and Island Mountain mineralized deposits.

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