Wall Street Zen Upgrades U.S. GoldMining (NASDAQ:USGO) to Hold

Key Points

• U.S. GoldMining has been upgraded by Wall Street Zen from a "sell" to a "hold" rating, signaling a potentially more stable outlook for the company.
• The company's stock opened at $7.89 and has a current market capitalization of $100.05 million, highlighting its modest size within the industry.
• Recent institutional investments show increased interest, with Geode Capital Management lifting its stake by 38.5% in the fourth quarter alone.

Wall Street Zen upgraded shares of U.S. GoldMining (NASDAQ:USGO - Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

U.S. GoldMining Trading Up 1.4%

Shares of U.S. GoldMining stock traded up $0.11 during trading on Friday, reaching $7.81. The stock had a trading volume of 8,520 shares, compared to its average volume of 22,258. The company has a market capitalization of $99.03 million, a price-to-earnings ratio of -11.83 and a beta of 1.96. The stock has a fifty day moving average price of $8.52 and a two-hundred day moving average price of $9.48. U.S. GoldMining has a 52 week low of $5.00 and a 52 week high of $14.46.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.07) EPS for the quarter. On average, equities analysts forecast that U.S. GoldMining will post -0.69 EPS for the current fiscal year.

Institutional Trading of U.S. GoldMining

A number of institutional investors have recently modified their holdings of USGO. 683 Capital Management LLC bought a new stake in shares of U.S. GoldMining in the fourth quarter valued at about $267,000. Geode Capital Management LLC raised its holdings in U.S. GoldMining by 61.0% during the second quarter. Geode Capital Management LLC now owns 52,480 shares of the company's stock worth $430,000 after acquiring an additional 19,875 shares in the last quarter. Northern Trust Corp raised its holdings in U.S. GoldMining by 124.4% during the fourth quarter. Northern Trust Corp now owns 27,080 shares of the company's stock worth $233,000 after acquiring an additional 15,011 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in U.S. GoldMining during the fourth quarter worth about $116,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in U.S. GoldMining during the fourth quarter worth about $112,000. 0.49% of the stock is currently owned by institutional investors.

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.