US Gold (NASDAQ:USAU) Shares Pass Below 200 Day Moving Average - What's Next?

Key Points

• US Gold passed below its 200-day moving average during trading; the 200‑day MA is $17.39, the stock traded as low as $16.94 and last at $17.10 on volume of 169,435 shares.
• Analysts are mixed — HC Wainwright reiterated a buy with a $27.50 target while Weiss Ratings maintains a sell — and the stock's overall average rating is "Hold" with an average price target of $26.75.
• US Gold reported a quarterly EPS loss of ($0.35)

US Gold Corp (NASDAQ:USAU - Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.39 and traded as low as $16.94. US Gold shares last traded at $17.10, with a volume of 169,435 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on USAU. HC Wainwright restated a "buy" rating and set a $27.50 price target on shares of US Gold in a research report on Thursday, April 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of US Gold in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.75.

US Gold Stock Performance

The company has a market cap of $282.15 million, a PE ratio of -11.79 and a beta of 0.89. The business's 50-day moving average is $16.55 and its 200 day moving average is $17.39.

US Gold (NASDAQ:USAU - Get Free Report) last issued its earnings results on Monday, March 16th. The technology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.22). Equities research analysts anticipate that US Gold Corp will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On US Gold

A number of large investors have recently added to or reduced their stakes in USAU. Geode Capital Management LLC raised its position in US Gold by 109.6% in the 2nd quarter. Geode Capital Management LLC now owns 251,330 shares of the technology company's stock worth $3,067,000 after purchasing an additional 131,394 shares during the period. New York State Common Retirement Fund purchased a new position in US Gold in the 2nd quarter worth $94,000. Quantbot Technologies LP purchased a new position in US Gold in the 2nd quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in US Gold in the 2nd quarter worth $73,000. Finally, Occudo Quantitative Strategies LP raised its position in US Gold by 4.3% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 33,398 shares of the technology company's stock worth $407,000 after purchasing an additional 1,379 shares during the period. Hedge funds and other institutional investors own 6.64% of the company's stock.

US Gold Company Profile

US Gold Corporation NASDAQ: USAU is a U.S.-based mineral exploration and development company focused on advancing gold and copper projects in key mining jurisdictions across the United States. The company’s flagship asset is the Copper King project in Park County, Wyoming, where US Gold holds more than 10,000 contiguous acres in the historic Sweetwater Mining District. Copper King is a bulk-tonnage, porphyry-style copper-gold property for which the company has completed multiple drilling campaigns, metallurgical testing and a preliminary economic assessment.

In addition to Copper King, US Gold controls the Keystone project on the northern Black Hills Gold Trend in South Dakota.

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