U.S. GoldMining (NASDAQ:USGO) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded U.S. GoldMining (NASDAQ:USGO) from a "hold" to a "sell" in a research note issued Sunday.
• Analyst views are mixed—Weiss Ratings also rates the stock a sell while HC Wainwright has a "buy" rating and lifted its price target to $30.75, leaving the consensus at an average rating of "Hold" with an average target of $30.75.
• Shares trade around $13.23 with a market cap of $176.2M; the company reported a quarterly loss (EPS −$0.02) and analysts forecast a negative FY EPS of −0.47, with a one‑year price range of $7.42–$17.98.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Several other research analysts have also issued reports on USGO. Weiss Ratings restated a "sell (d-)" rating on shares of U.S. GoldMining in a research report on Wednesday, April 8th. HC Wainwright lifted their price target on shares of U.S. GoldMining from $26.50 to $30.75 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.75.

U.S. GoldMining Stock Performance

Shares of USGO stock opened at $13.23 on Friday. The stock has a market capitalization of $176.22 million, a price-to-earnings ratio of -24.50 and a beta of 1.98. U.S. GoldMining has a one year low of $7.42 and a one year high of $17.98. The company's 50-day simple moving average is $12.34 and its 200-day simple moving average is $11.50.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last posted its quarterly earnings results on Friday, April 10th. The company reported ($0.02) earnings per share (EPS) for the quarter. As a group, research analysts forecast that U.S. GoldMining will post -0.47 EPS for the current year.

Hedge Funds Weigh In On U.S. GoldMining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in U.S. GoldMining by 57.3% during the 4th quarter. Barclays PLC now owns 3,730 shares of the company's stock worth $33,000 after purchasing an additional 1,358 shares in the last quarter. Wells Fargo & Company MN grew its position in U.S. GoldMining by 46.1% during the 4th quarter. Wells Fargo & Company MN now owns 4,150 shares of the company's stock worth $37,000 after purchasing an additional 1,310 shares in the last quarter. Russell Investments Group Ltd. grew its position in U.S. GoldMining by 219.8% during the 4th quarter. Russell Investments Group Ltd. now owns 5,722 shares of the company's stock worth $50,000 after purchasing an additional 3,933 shares in the last quarter. New York State Common Retirement Fund purchased a new position in U.S. GoldMining during the 2nd quarter worth approximately $93,000. Finally, Bank of America Corp DE grew its position in U.S. GoldMining by 580.1% during the 3rd quarter. Bank of America Corp DE now owns 12,554 shares of the company's stock worth $161,000 after purchasing an additional 10,708 shares in the last quarter. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

About U.S. GoldMining

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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