U.S. GoldMining (NASDAQ:USGO) Issues Earnings Results

U.S. GoldMining (NASDAQ:USGO) announced its quarterly earnings data on Wednesday. The company reported ($0.36) earnings per share for the quarter, FiscalAI reports.

U.S. GoldMining Price Performance

Shares of U.S. GoldMining stock traded down $0.12 during trading on Thursday, hitting $8.69. The company’s stock had a trading volume of 12,055 shares, compared to its average volume of 81,597. U.S. GoldMining has a 52 week low of $7.16 and a 52 week high of $17.98. The stock has a market cap of $116.01 million, a price-to-earnings ratio of -14.98 and a beta of 1.86. The stock has a 50-day moving average price of $8.13 and a two-hundred day moving average price of $10.81.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $30.75 price target on shares of U.S. GoldMining in a research note on Thursday, June 25th. Wall Street Zen lowered U.S. GoldMining from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Finally, Weiss Ratings cut U.S. GoldMining from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of USGO. Barclays PLC increased its stake in shares of U.S. GoldMining by 57.3% in the fourth quarter. Barclays PLC now owns 3,730 shares of the company’s stock valued at $33,000 after buying an additional 1,358 shares during the period. Wells Fargo & Company MN boosted its holdings in U.S. GoldMining by 46.1% in the fourth quarter. Wells Fargo & Company MN now owns 4,150 shares of the company’s stock valued at $37,000 after acquiring an additional 1,310 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in U.S. GoldMining by 219.8% during the 4th quarter. Russell Investments Group Ltd. now owns 5,722 shares of the company’s stock worth $50,000 after purchasing an additional 3,933 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of U.S. GoldMining in the 2nd quarter worth approximately $93,000. Finally, Themes Management Co LLC acquired a new stake in shares of U.S. GoldMining during the first quarter worth $139,000. 0.49% of the stock is owned by institutional investors and hedge funds.

About U.S. GoldMining

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.