U.S. GoldMining (NASDAQ:USGO) Lowered to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded U.S. GoldMining from “sell” to “strong sell,” while analyst opinions remain mixed; MarketBeat lists an average rating of “Hold” and a consensus price target of $30.75.
• USGO shares opened at $8.83, with a market capitalization of approximately $117.9 million and a 52-week range of $7.16 to $17.98. The company reported a quarterly loss of $0.36 per share and analysts expect a full-year loss of $0.49 per share.
• Several institutional investors increased or initiated positions, but hedge funds and other institutions collectively own only 0.49% of the stock.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday.

USGO has been the subject of a number of other reports. HC Wainwright reaffirmed a "buy" rating and issued a $30.75 price target on shares of U.S. GoldMining in a report on Thursday, June 25th. Weiss Ratings cut shares of U.S. GoldMining from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.75.

U.S. GoldMining Price Performance

Shares of NASDAQ USGO opened at $8.83 on Friday. The business has a 50-day moving average of $8.11 and a two-hundred day moving average of $10.74. The company has a market capitalization of $117.92 million, a price-to-earnings ratio of -10.15 and a beta of 1.86. U.S. GoldMining has a 1 year low of $7.16 and a 1 year high of $17.98.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.36) EPS for the quarter. As a group, equities research analysts expect that U.S. GoldMining will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On U.S. GoldMining

Several hedge funds have recently made changes to their positions in USGO. Barclays PLC lifted its holdings in shares of U.S. GoldMining by 57.3% in the 4th quarter. Barclays PLC now owns 3,730 shares of the company's stock valued at $33,000 after purchasing an additional 1,358 shares during the last quarter. Wells Fargo & Company MN grew 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 worth $37,000 after buying an additional 1,310 shares during the last quarter. Russell Investments Group Ltd. grew its stake 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 buying an additional 3,933 shares during the last quarter. New York State Common Retirement Fund acquired a new position in U.S. GoldMining during the second quarter worth approximately $93,000. Finally, Goldman Sachs Group Inc. acquired a new position in U.S. GoldMining during the fourth quarter worth approximately $131,000. Hedge funds and other institutional investors own 0.49% of the company's stock.

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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