U.S. GoldMining (NASDAQ:USGO) Trading Up 0.1% - Time to Buy?

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report)'s stock price traded up 0.1% during trading on Wednesday . The stock traded as high as $8.61 and last traded at $8.25. Approximately 18,320 shares were traded during trading, a decline of 57% from the average session volume of 42,343 shares. The stock had previously closed at $8.24.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded U.S. GoldMining from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

U.S. GoldMining Price Performance

The firm's fifty day moving average price is $9.39 and its 200-day moving average price is $9.60. The company has a market cap of $98.70 million, a price-to-earnings ratio of -11.11 and a beta of 1.97.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.10) earnings per share for the quarter. As a group, equities analysts forecast that U.S. GoldMining Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On U.S. GoldMining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 683 Capital Management LLC acquired a new position in U.S. GoldMining during the 4th quarter worth $267,000. Northern Trust Corp lifted its holdings in U.S. GoldMining by 124.4% in the fourth quarter. Northern Trust Corp now owns 27,080 shares of the company's stock worth $233,000 after purchasing an additional 15,011 shares during the period. OMERS ADMINISTRATION Corp bought a new position in U.S. GoldMining in the 4th quarter valued at about $116,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in U.S. GoldMining during the 4th quarter valued at about $112,000. Finally, Renaissance Technologies LLC bought a new stake in shares of U.S. GoldMining during the 4th quarter worth about $91,000. 0.49% of the stock is owned by institutional investors.

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.