U.S. GoldMining (NASDAQ:USGO) Issues 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) released its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, Zacks reports.

U.S. GoldMining Stock Performance

Shares of NASDAQ USGO traded down $0.07 during midday trading on Monday, hitting $7.83. 2,256 shares of the stock traded hands, compared to its average volume of 37,918. The firm has a 50-day moving average of $8.63 and a two-hundred day moving average of $9.52. The firm has a market capitalization of $99.22 million, a P/E ratio of -11.86 and a beta of 1.96. U.S. GoldMining has a one year low of $5.00 and a one year high of $14.46.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised U.S. GoldMining from a "sell" rating to a "hold" rating in a research report on Saturday.

Hedge Funds 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 (SEC). 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 about 0.42% of U.S. GoldMining worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 0.49% of the company's stock.

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.