U.S. GoldMining (NASDAQ:USGO) Posts 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 1.9%

NASDAQ:USGO traded down $0.24 during mid-day trading on Friday, hitting $12.74. The company’s stock had a trading volume of 25,729 shares, compared to its average volume of 93,640. U.S. GoldMining has a fifty-two week low of $7.42 and a fifty-two week high of $17.98. The company has a market capitalization of $169.64 million, a price-to-earnings ratio of -21.96 and a beta of 1.97. The stock has a fifty day moving average of $12.53 and a 200-day moving average of $11.48.

Wall Street Analyst Weigh In

USGO has been the topic of several research reports. HC Wainwright boosted their price objective on shares of U.S. GoldMining from $26.50 to $30.75 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Wall Street Zen downgraded shares of U.S. GoldMining from a “hold” rating to a “sell” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of U.S. GoldMining in a report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in USGO. Geode Capital Management LLC raised its position in U.S. GoldMining by 61.0% in the second quarter. Geode Capital Management LLC now owns 52,480 shares of the company’s stock worth $430,000 after purchasing an additional 19,875 shares in the last quarter. New York State Common Retirement Fund acquired a new position in U.S. GoldMining in the second quarter worth about $93,000. Bank of America Corp DE raised its position in U.S. GoldMining by 580.1% in the third quarter. Bank of America Corp DE now owns 12,554 shares of the company’s stock worth $161,000 after purchasing an additional 10,708 shares in the last quarter. Citadel Advisors LLC acquired a new position in U.S. GoldMining in the third quarter worth about $200,000. Finally, FNY Investment Advisers LLC acquired a new position in U.S. GoldMining in the fourth quarter worth about $133,000. Institutional investors and hedge funds own 0.49% of the company’s stock.

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.