U.S. GoldMining (NASDAQ:USGO) Shares Down 3.1% - What's Next?

Key Points

• U.S. GoldMining shares fell 3.1% to $8.54 on Thursday, with trading volume 43% below its average. The stock’s 50-day moving average is $8.11, compared with $10.76 for its 200-day average.
• Analyst sentiment is mixed: HC Wainwright reiterated a “Buy” rating with a $30.75 price target, while Wall Street Zen and Weiss Ratings issued “Sell” ratings. The consensus rating is “Hold,” with an average target of $30.75.
• The company reported a quarterly loss of $0.36 per share, and analysts expect a full-year loss of $0.49 per share. Institutional ownership remains limited, with hedge funds and other institutions holding just 0.49% of outstanding shares.

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report)'s share price was down 3.1% during trading on Thursday . The stock traded as low as $8.52 and last traded at $8.54. 37,031 shares changed hands during trading, a decline of 43% from the average daily volume of 64,540 shares. The stock had previously closed at $8.81.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on USGO. HC Wainwright reaffirmed a "buy" rating and issued a $30.75 price objective on shares of U.S. GoldMining in a research report on Thursday, June 25th. Wall Street Zen cut shares of U.S. GoldMining from a "hold" rating to a "sell" rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings downgraded shares of U.S. GoldMining from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.75.

U.S. GoldMining Stock Down 3.1%

The company has a market capitalization of $114.01 million, a price-to-earnings ratio of -9.82 and a beta of 1.86. The firm has a 50 day moving average price of $8.11 and a two-hundred day moving average price of $10.76.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.36) EPS for the quarter. Analysts predict that U.S. GoldMining Inc. will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On U.S. GoldMining

Several institutional investors and hedge funds have recently made changes to their positions in USGO. Marshall Wace LLP bought a new stake in shares of U.S. GoldMining in the fourth quarter worth $147,000. State Street Corp boosted its stake in U.S. GoldMining by 19.3% during the 4th quarter. State Street Corp now owns 17,422 shares of the company's stock valued at $154,000 after acquiring an additional 2,822 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in U.S. GoldMining during the 4th quarter worth $181,000. Goldman Sachs Group Inc. acquired a new position in U.S. GoldMining during the 4th quarter worth $131,000. Finally, Citadel Advisors LLC bought a new stake in shares of U.S. GoldMining in the 3rd quarter worth about $200,000. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

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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