U.S. GoldMining (NASDAQ:USGO) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of U.S. GoldMining (NASDAQ:USGO) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other equities research analysts also recently weighed in on USGO. HC Wainwright increased their target price on shares of U.S. GoldMining from $26.50 to $30.75 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of U.S. GoldMining in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, U.S. GoldMining currently has an average rating of “Hold” and an average target price of $30.75.

U.S. GoldMining Stock Performance

NASDAQ USGO opened at $10.77 on Friday. The business’s 50 day moving average price is $12.43 and its 200-day moving average price is $11.37. U.S. GoldMining has a fifty-two week low of $7.42 and a fifty-two week high of $17.98. The company has a market cap of $143.46 million, a P/E ratio of -19.94 and a beta of 2.23.

U.S. GoldMining (NASDAQ:USGO) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.15) earnings per share (EPS) for the quarter. As a group, equities analysts predict that U.S. GoldMining will post -0.69 EPS for the current year.

Hedge Funds Weigh In On U.S. GoldMining

Several hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in U.S. GoldMining by 148.6% in the fourth quarter. Renaissance Technologies LLC now owns 73,100 shares of the company’s stock worth $645,000 after purchasing an additional 43,700 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of U.S. GoldMining during the fourth quarter worth $181,000. Geode Capital Management LLC boosted 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 valued at $430,000 after purchasing an additional 19,875 shares during the period. Marshall Wace LLP purchased a new stake in shares of U.S. GoldMining during the fourth quarter valued at $147,000. Finally, Citadel Advisors LLC bought a new position in shares of U.S. GoldMining in the third quarter worth about $200,000. Institutional investors own 0.49% of the company’s stock.

U.S. GoldMining Company Profile

U.S. GoldMining Inc is a mineral exploration and development company focused on the acquisition, exploration and advancement of gold assets in the Americas. The company’s flagship project is West Desert, located in Utah’s Great Basin region, where it has completed detailed technical studies and resource modeling. In addition to West Desert, U.S. GoldMining has recently added the Colossus gold project in Pará State, Brazil, to its portfolio and holds interests in the Copper King deposit in Wyoming.