U.S. GoldMining (NASDAQ:USGO) Issues Quarterly Earnings Results

Key Points

• U.S. GoldMining reported a quarterly loss of ($0.07) earnings per share, leading to a 1.9% decline in its stock price to $7.73.
• Geode Capital Management LLC increased its stake in U.S. GoldMining by 61.0% in the second quarter, holding 52,480 shares valued at approximately $430,000.
• Wall Street Zen downgraded U.S. GoldMining from a "hold" rating to a "sell" rating in a recent analyst report.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.07) earnings per share for the quarter, Zacks reports.

U.S. GoldMining Stock Down 1.9%

Shares of U.S. GoldMining stock traded down $0.15 on Wednesday, hitting $7.73. The stock had a trading volume of 18,850 shares, compared to its average volume of 38,281. The stock has a market cap of $96.69 million, a price-to-earnings ratio of -10.89 and a beta of 1.96. The business's 50 day moving average is $8.73 and its two-hundred day moving average is $9.54. U.S. GoldMining has a twelve month low of $5.00 and a twelve month high of $14.46.

Institutional Investors Weigh In On U.S. GoldMining

A hedge fund recently raised its stake in U.S. GoldMining stock. Geode Capital Management LLC grew its holdings in shares of U.S. GoldMining Inc. (NASDAQ:USGO - Free Report) by 61.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,480 shares of the company's stock after acquiring an additional 19,875 shares during the period. Geode Capital Management LLC owned 0.42% of U.S. GoldMining worth $430,000 as of its most recent SEC filing. Institutional investors own 0.49% of the company's stock.

Analysts Set New Price Targets

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

U.S. GoldMining Company Profile

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.

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