U.S. GoldMining (NASDAQ:USGO) Posts Quarterly Earnings Results

U.S. GoldMining (NASDAQ:USGO) released its quarterly earnings results on Tuesday. The company reported ($0.58) earnings per share for the quarter, FiscalAI reports.

U.S. GoldMining Stock Down 12.8%

U.S. GoldMining stock opened at $5.06 on Wednesday. The stock’s 50 day moving average is $6.48 and its 200 day moving average is $9.64. U.S. GoldMining has a one year low of $4.35 and a one year high of $17.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of USGO. BlackRock Inc. bought a new stake in shares of U.S. GoldMining during the 2nd quarter valued at about $1,431,000. GSA Capital Partners LLP bought a new position in shares of U.S. GoldMining during the 2nd quarter worth approximately $264,000. Russell Investments Group Ltd. boosted its holdings in shares of U.S. GoldMining by 61.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 23,636 shares of the company’s stock worth $157,000 after buying an additional 8,976 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of U.S. GoldMining during the 1st quarter worth approximately $161,000. Finally, Themes Management Co LLC acquired a new stake in shares of U.S. GoldMining during the 1st quarter worth approximately $139,000. Institutional investors and hedge funds own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on USGO shares. Wall Street Zen raised shares of U.S. GoldMining from a “strong sell” rating to a “sell” rating in a report on Saturday, October 24th. HC Wainwright reaffirmed a “buy” rating and set a $30.75 price target on shares of U.S. GoldMining in a research note on Wednesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U.S. GoldMining in a research note on Friday, September 25th. One research 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 company has an average rating of “Hold” and an average target price of $30.75.

U.S. GoldMining Company Profile

U.S. GoldMining Inc. is a mineral exploration and development company focused on advancing gold and copper assets in the United States. The company is not currently a producing mining company; its activities include mineral exploration, resource evaluation, technical studies and project development. The company’s principal asset is the 100%-owned Whistler project in south-central Alaska, approximately 170 kilometers southwest of Anchorage. The project includes the Whistler, Raintree and Island Mountain deposits and is being evaluated for its potential to host a large-scale gold-copper development.