U.S. GoldMining Inc. (NASDAQ:USGO) Short Interest Update

Key Points

• U.S. GoldMining Inc. (NASDAQ:USGO) experienced a staggering 984.2% increase in short interest in July, raising the total to 123,600 shares.
• Recent institutional trading saw significant position changes, with Northern Trust Corp increasing its holdings by 124.4% to now own 27,080 shares.
• Wall Street Zen downgraded U.S. GoldMining from a "hold" rating to a "sell" rating on May 22nd, reflecting negative sentiment in the market.

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 123,600 shares, anincreaseof984.2% from the June 30th total of 11,400 shares. Based on an average daily trading volume, of 28,700 shares, the short-interest ratio is currently 4.3 days. Approximately8.5% of the company's stock are sold short. Approximately8.5% of the company's stock are sold short. Based on an average daily trading volume, of 28,700 shares, the short-interest ratio is currently 4.3 days.

U.S. GoldMining Stock Performance

NASDAQ:USGO traded up $0.50 during mid-day trading on Monday, hitting $8.26. 93,935 shares of the company's stock traded hands, compared to its average volume of 30,686. The firm's 50 day simple moving average is $8.95 and its 200 day simple moving average is $9.61. U.S. GoldMining has a 1 year low of $5.00 and a 1 year high of $14.46. The company has a market cap of $103.33 million, a PE ratio of -11.63 and a beta of 1.96.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.10) earnings per share for the quarter. On average, research analysts expect that U.S. GoldMining will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut U.S. GoldMining from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Hedge Funds Weigh In On U.S. GoldMining

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in shares of U.S. GoldMining in the fourth quarter worth approximately $91,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of U.S. GoldMining in the fourth quarter worth approximately $112,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of U.S. GoldMining in the fourth quarter worth approximately $116,000. Northern Trust Corp boosted its position in shares of U.S. GoldMining by 124.4% in the fourth quarter. Northern Trust Corp now owns 27,080 shares of the company's stock worth $233,000 after acquiring an additional 15,011 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new stake in shares of U.S. GoldMining in the fourth quarter worth approximately $267,000. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

About U.S. GoldMining

U.S. GoldMining Inc, an exploration stage company, engages in the exploration and development of mineral properties in the United States. The company's primary asset is the 100%-owned Whistler exploration property, a gold-copper exploration project comprising mining claims totaling 53,700 acres located in Yentna Mining District, Alaska.