U.S. GoldMining (NASDAQ:USGO) Shares Up 1.6% - Time to Buy?

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report) shares shot up 1.6% during trading on Monday . The stock traded as high as $13.55 and last traded at $12.98. 137,596 shares traded hands during trading, a decline of 14% from the average session volume of 160,467 shares. The stock had previously closed at $12.78.

Analyst Upgrades and Downgrades

Several research firms have commented on USGO. HC Wainwright reissued a "buy" rating and set a $26.50 price objective on shares of U.S. GoldMining in a report on Tuesday, August 26th. Wall Street Zen raised shares of U.S. GoldMining from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of U.S. GoldMining in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.50.

U.S. GoldMining Price Performance

The firm has a market capitalization of $164.59 million, a PE ratio of -19.67 and a beta of 2.13. The stock's 50-day moving average price is $10.64 and its 200 day moving average price is $9.71.

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

Institutional Investors Weigh In On U.S. GoldMining

Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund acquired a new stake in shares of U.S. GoldMining during the second quarter worth $93,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of U.S. GoldMining by 38.5% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 18,000 shares of the company's stock worth $176,000 after buying an additional 5,000 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in shares of U.S. GoldMining by 79.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 24,273 shares of the company's stock worth $238,000 after buying an additional 10,773 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 19,875 shares during the period. 0.49% of the stock is currently owned by institutional investors and hedge funds.

About U.S. GoldMining

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.

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