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

U.S. GoldMining (NASDAQ:USGO) posted its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, FiscalAI reports.

U.S. GoldMining Trading Down 0.5%

Shares of NASDAQ:USGO opened at $13.19 on Thursday. U.S. GoldMining has a twelve month low of $7.42 and a twelve month high of $17.98. The company’s 50 day moving average is $12.54 and its 200 day moving average is $11.48. The company has a market cap of $175.69 million, a PE ratio of -24.43 and a beta of 1.97.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on USGO shares. Wall Street Zen downgraded shares of U.S. GoldMining from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of U.S. GoldMining in a report on Wednesday, April 8th. Finally, HC Wainwright upped their price objective on shares of U.S. GoldMining from $26.50 to $30.75 and gave the company a “buy” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.75.

Hedge Funds Weigh In On U.S. GoldMining

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in shares of U.S. GoldMining by 46.1% during the 4th quarter. Wells Fargo & Company MN now owns 4,150 shares of the company’s stock worth $37,000 after purchasing an additional 1,310 shares during the period. Barclays PLC grew its stake in shares of U.S. GoldMining by 57.3% during the 4th quarter. Barclays PLC now owns 3,730 shares of the company’s stock worth $33,000 after purchasing an additional 1,358 shares during the period. State Street Corp grew its stake in shares of U.S. GoldMining by 19.3% during the 4th quarter. State Street Corp now owns 17,422 shares of the company’s stock worth $154,000 after purchasing an additional 2,822 shares during the period. Russell Investments Group Ltd. grew its stake in shares of 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 period. Finally, Geode Capital Management LLC grew its stake in shares of U.S. GoldMining by 14.8% during the 4th quarter. Geode Capital Management LLC now owns 59,576 shares of the company’s stock worth $526,000 after purchasing an additional 7,667 shares during the period. Institutional investors and hedge funds 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.