NewGen Asset Management Ltd Takes $1.55 Million Position in US Gold Corp $USAU

NewGen Asset Management Ltd purchased a new stake in shares of US Gold Corp (NASDAQ:USAU) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 80,000 shares of the technology company’s stock, valued at approximately $1,553,000. US Gold comprises approximately 1.0% of NewGen Asset Management Ltd’s portfolio, making the stock its 19th biggest holding. NewGen Asset Management Ltd owned approximately 0.49% of US Gold as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of USAU. Millennium Management LLC acquired a new position in shares of US Gold during the 3rd quarter valued at about $3,737,000. Goldman Sachs Group Inc. boosted its position in shares of US Gold by 334.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 177,993 shares of the technology company’s stock valued at $3,455,000 after acquiring an additional 137,009 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of US Gold by 109.6% during the 2nd quarter. Geode Capital Management LLC now owns 251,330 shares of the technology company’s stock valued at $3,067,000 after acquiring an additional 131,394 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of US Gold by 16.6% during the 3rd quarter. Vanguard Group Inc. now owns 648,923 shares of the technology company’s stock valued at $10,694,000 after acquiring an additional 92,153 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of US Gold during the 4th quarter valued at about $1,371,000. Institutional investors and hedge funds own 6.64% of the company’s stock.

US Gold Trading Up 4.9%

Shares of USAU opened at $16.12 on Tuesday. The firm has a market cap of $265.98 million, a P/E ratio of -11.12 and a beta of 0.86. US Gold Corp has a 12-month low of $10.09 and a 12-month high of $23.75. The company’s 50-day moving average price is $15.90 and its 200 day moving average price is $17.26.

US Gold (NASDAQ:USAU) last issued its quarterly earnings data on Monday, March 16th. The technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.22). Equities research analysts forecast that US Gold Corp will post -1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on USAU. HC Wainwright restated a “buy” rating and issued a $27.50 price objective on shares of US Gold in a report on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of US Gold in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.75.

About US Gold

US Gold Corporation (NASDAQ: USAU) is a U.S.-based mineral exploration and development company focused on advancing gold and copper projects in key mining jurisdictions across the United States. The company’s flagship asset is the Copper King project in Park County, Wyoming, where US Gold holds more than 10,000 contiguous acres in the historic Sweetwater Mining District. Copper King is a bulk-tonnage, porphyry-style copper-gold property for which the company has completed multiple drilling campaigns, metallurgical testing and a preliminary economic assessment.

In addition to Copper King, US Gold controls the Keystone project on the northern Black Hills Gold Trend in South Dakota.