US Gold (NASDAQ:USAU) Releases Quarterly Earnings Results, Misses Expectations By $0.18 EPS

US Gold (NASDAQ:USAU) announced its quarterly earnings results on Wednesday. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18), Zacks reports.

US Gold Price Performance

USAU traded down $0.12 during trading hours on Wednesday, reaching $16.98. The company’s stock had a trading volume of 341,227 shares, compared to its average volume of 314,652. The stock has a market cap of $243.83 million, a PE ratio of -11.10 and a beta of 0.96. US Gold has a fifty-two week low of $5.86 and a fifty-two week high of $19.20. The business’s 50-day moving average is $16.51 and its 200-day moving average is $14.03.

Hedge Funds Weigh In On US Gold

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in US Gold by 109.6% in the 2nd quarter. Geode Capital Management LLC now owns 251,330 shares of the technology company’s stock valued at $3,067,000 after buying an additional 131,394 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of US Gold in the 2nd quarter valued at approximately $94,000. Quantbot Technologies LP acquired a new position in shares of US Gold in the 2nd quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of US Gold during the 2nd quarter worth approximately $73,000. Finally, Occudo Quantitative Strategies LP increased its holdings in US Gold by 4.3% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 33,398 shares of the technology company’s stock valued at $407,000 after purchasing an additional 1,379 shares during the last quarter. 6.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on USAU. Roth Capital raised their price target on shares of US Gold from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. HC Wainwright upped their price objective on US Gold from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Wall Street Zen upgraded US Gold from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of US Gold in a report on Wednesday, October 8th. Finally, Zacks Research cut US Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.33.

US Gold Company Profile

U.S. Gold Corp. engages in the exploration and development of gold and precious metals in the United States. It also explores for copper and silver deposits. The company holds 100% interests in the CK Gold project, which consists of various mining leases and other mineral rights covering approximately 1,120 acres in Laramie County, Wyoming; the Keystone project that consists of 601 unpatented lode mining claims covering approximately 20 square miles in Eureka County, Nevada; and the Challis Gold project, which consists of 77 unpatented lode mining claims covering approximately 1,710 acres in Lemhi County, Idaho.