U.S. GoldMining (NASDAQ:USGO) Trading 0.8% Higher - What's Next?

Key Points

• U.S. GoldMining Inc. shares increased by 0.8%, trading between $13.22 and $13.66, with a market cap of $167.63 million.
• Analysts from HC Wainwright rated the stock a "buy" with a price target of $26.50, while the current consensus rating remains a "buy."
• Institutional ownership has increased, with significant acquisitions by firms like the New York State Common Retirement Fund and Northern Trust Corp boosting their stakes in the company.

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report)'s share price traded up 0.8% on Friday . The stock traded as high as $13.66 and last traded at $13.22. 81,027 shares were traded during mid-day trading, a decline of 10% from the average session volume of 90,484 shares. The stock had previously closed at $13.12.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $26.50 price objective on shares of U.S. GoldMining in a research note 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. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $26.50.

U.S. GoldMining Trading Up 0.8%

The stock's 50-day moving average price is $8.94 and its 200-day moving average price is $9.28. The stock has a market cap of $167.63 million, a price-to-earnings ratio of -20.03 and a beta of 1.97.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund acquired a new position in shares of U.S. GoldMining during the 2nd quarter valued at $93,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in U.S. GoldMining during the fourth quarter worth $112,000. 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 buying an additional 15,011 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in 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 last quarter. Finally, 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 buying an additional 19,875 shares during the last quarter. Institutional investors and hedge funds own 0.49% of the company's stock.

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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