U.S. GoldMining (NASDAQ:USGO) Trading Down 1.6% - Here's What Happened

Key Points

• U.S. GoldMining shares fell by 1.6% on Thursday, closing at $7.75 after trading activity dropped significantly.
• Wall Street Zen downgraded U.S. GoldMining's stock rating from "hold" to "sell" in a report published on May 22nd.
• Institutional investors have recently increased their stakes in U.S. GoldMining, with Northern Trust Corp boosting its position by 124.4% in the fourth quarter.

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report) shares were down 1.6% on Thursday . The company traded as low as $7.75 and last traded at $7.75. Approximately 17,789 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 29,080 shares. The stock had previously closed at $7.88.

Wall Street Analyst Weigh In

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

U.S. GoldMining Price Performance

The firm has a market cap of $96.94 million, a P/E ratio of -10.92 and a beta of 1.97. The company has a fifty day moving average of $8.99 and a 200-day moving average of $9.60.

U.S. GoldMining (NASDAQ:USGO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter. On average, sell-side analysts expect that U.S. GoldMining Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On U.S. GoldMining

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of U.S. GoldMining in the fourth quarter valued at approximately $91,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in U.S. GoldMining in the 4th quarter valued at $112,000. OMERS ADMINISTRATION Corp bought a new position in U.S. GoldMining in the 4th quarter valued at $116,000. Northern Trust Corp increased its position in shares of U.S. GoldMining by 124.4% during the 4th quarter. Northern Trust Corp now owns 27,080 shares of the company's stock valued at $233,000 after purchasing an additional 15,011 shares during the last quarter. Finally, 683 Capital Management LLC bought a new stake in shares of U.S. GoldMining during the 4th quarter worth $267,000. Institutional investors own 0.49% of the company's stock.

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.

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