NewGen Asset Management Ltd Makes New Investment in US Gold Corp $USAU

NewGen Asset Management Ltd purchased a new position in shares of US Gold Corp (NASDAQ:USAU) during the fourth quarter, Holdings Channel.com reports. The fund purchased 80,000 shares of the technology company’s stock, valued at approximately $1,553,000. US Gold accounts for 1.0% of NewGen Asset Management Ltd’s investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of USAU. Quantbot Technologies LP purchased a new stake in US Gold during the second quarter worth about $25,000. CIBC Private Wealth Group LLC purchased a new stake in US Gold during the fourth quarter worth about $39,000. BNP Paribas Financial Markets increased its stake in US Gold by 157.5% during the third quarter. BNP Paribas Financial Markets now owns 2,413 shares of the technology company’s stock worth $40,000 after purchasing an additional 1,476 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in US Gold during the fourth quarter worth about $44,000. Finally, Ameritas Advisory Services LLC increased its stake in US Gold by 26,900.0% during the third quarter. Ameritas Advisory Services LLC now owns 2,700 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,690 shares during the period. 6.64% of the stock is currently owned by hedge funds and other institutional investors.

US Gold Stock Performance

USAU stock opened at $16.12 on Tuesday. The company’s 50 day moving average price is $15.90 and its 200 day moving average price is $17.26. US Gold Corp has a fifty-two week low of $10.09 and a fifty-two week high of $23.75. The firm has a market capitalization of $265.98 million, a price-to-earnings ratio of -11.12 and a beta of 0.86.

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

Analyst Ratings Changes

A number of brokerages have issued reports on USAU. HC Wainwright reiterated a “buy” rating and set a $27.50 price target on shares of US Gold in a research note on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of US Gold in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.