US Gold (NASDAQ:USAU) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• US Gold reported quarterly earnings of ($0.15) per share, surpassing analysts' expectations of ($0.20) by $0.05.
• The company's stock has a market capitalization of $212.41 million and a price-to-earnings ratio of -8.51, with shares trading between a fifty-two week low of $5.41 and high of $16.36.
• Analyst ratings for US Gold are generally positive, with an average rating of "Buy" and a consensus price target of $14.67.

US Gold (NASDAQ:USAU - Get Free Report) issued its quarterly earnings results on Monday. The technology company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.05, Zacks reports.

US Gold Price Performance

Shares of USAU opened at $15.14 on Tuesday. The company has a market capitalization of $212.41 million, a price-to-earnings ratio of -8.51 and a beta of 1.19. US Gold has a fifty-two week low of $5.41 and a fifty-two week high of $16.36. The business's 50-day moving average is $12.11 and its 200-day moving average is $11.16.

Hedge Funds Weigh In On US Gold

Hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in US Gold in the second quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in US Gold in the second quarter worth approximately $73,000. Bank of America Corp DE increased its holdings in US Gold by 6,786.2% in the second quarter. Bank of America Corp DE now owns 6,473 shares of the technology company's stock worth $79,000 after buying an additional 6,379 shares during the last quarter. New York State Common Retirement Fund acquired a new position in US Gold in the second quarter worth approximately $94,000. Finally, Engineers Gate Manager LP increased its holdings in US Gold by 38.0% in the second quarter. Engineers Gate Manager LP now owns 15,571 shares of the technology company's stock worth $190,000 after buying an additional 4,287 shares during the last quarter. Institutional investors and hedge funds own 6.64% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Roth Capital restated a "buy" rating and set a $19.00 price objective (up previously from $18.00) on shares of US Gold in a report on Monday, August 4th. HC Wainwright restated a "buy" rating and set a $15.00 price objective on shares of US Gold in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $14.67.

US Gold Company Profile

U.S. Gold Corp. engages in the exploration and development of gold and precious metals in the United States. It also explores for copper and silver deposits. The company holds 100% interests in the CK Gold project, which consists of various mining leases and other mineral rights covering approximately 1,120 acres in Laramie County, Wyoming; the Keystone project that consists of 601 unpatented lode mining claims covering approximately 20 square miles in Eureka County, Nevada; and the Challis Gold project, which consists of 77 unpatented lode mining claims covering approximately 1,710 acres in Lemhi County, Idaho.

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