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

Key Points

• EPS loss: U.S. GoldMining reported quarterly EPS of ($0.15) and its shares fell about 2.9%, trading around $10.62 (12‑month range $7.42–$17.98) with a market cap near $141 million.
• Analyst views are mixed but the consensus is a Hold with a consensus price target of $30.75, implying substantial upside from current levels despite one Buy and one Sell rating.
• Institutional ownership is very low at 0.49%, although several firms (Russell, Barclays, State Street, Wells Fargo, Marshall Wace) modestly increased or initiated positions in the fourth quarter.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.15) EPS for the quarter, Zacks reports.

U.S. GoldMining Stock Down 2.9%

Shares of NASDAQ:USGO opened at $10.62 on Friday. The business has a 50 day moving average price of $12.44 and a 200 day moving average price of $11.29. U.S. GoldMining has a twelve month low of $7.42 and a twelve month high of $17.98. The company has a market cap of $140.96 million, a price-to-earnings ratio of -20.04 and a beta of 2.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its position in shares of U.S. GoldMining by 219.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,722 shares of the company's stock valued at $50,000 after acquiring an additional 3,933 shares during the period. Barclays PLC grew its stake in shares of U.S. GoldMining by 57.3% in the fourth quarter. Barclays PLC now owns 3,730 shares of the company's stock worth $33,000 after acquiring an additional 1,358 shares during the last quarter. Marshall Wace LLP bought a new position in U.S. GoldMining during the fourth quarter worth $147,000. State Street Corp increased its position in U.S. GoldMining by 19.3% during the fourth quarter. State Street Corp now owns 17,422 shares of the company's stock worth $154,000 after acquiring an additional 2,822 shares during the period. Finally, Wells Fargo & Company MN raised its stake 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 valued at $37,000 after purchasing an additional 1,310 shares during the last quarter. 0.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on USGO. Weiss Ratings restated a "sell (d-)" rating on shares of U.S. GoldMining in a research note on Friday, January 9th. HC Wainwright lifted their target price on shares of U.S. GoldMining from $26.50 to $30.75 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. GoldMining currently has a consensus rating of "Hold" and a consensus price target of $30.75.

U.S. GoldMining Company Profile

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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