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

U.S. GoldMining (NASDAQ:USGO) posted its quarterly earnings data on Friday. The company reported ($0.15) earnings per share (EPS) for the quarter, Zacks reports.

U.S. GoldMining Price Performance

USGO opened at $10.62 on Friday. The company has a market capitalization of $140.96 million, a P/E ratio of -20.04 and a beta of 2.23. The firm’s fifty day moving average price is $12.44 and its two-hundred day moving average price is $11.29. U.S. GoldMining has a fifty-two week low of $7.42 and a fifty-two week high of $17.98.

Hedge Funds Weigh In On U.S. GoldMining

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position 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 valued at $50,000 after acquiring an additional 3,933 shares in the last quarter. Barclays PLC increased its stake in 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 acquiring an additional 1,358 shares during the period. Marshall Wace LLP acquired a new position in U.S. GoldMining in the fourth quarter worth about $147,000. State Street Corp raised its position in U.S. GoldMining by 19.3% in the fourth quarter. State Street Corp now owns 17,422 shares of the company’s stock worth $154,000 after purchasing an additional 2,822 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in U.S. GoldMining by 46.1% during the fourth 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. 0.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on USGO. Weiss Ratings reiterated a “sell (d-)” rating on shares of U.S. GoldMining in a research note on Friday, January 9th. HC Wainwright boosted their price target on U.S. GoldMining from $26.50 to $30.75 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.75.

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.