US Gold (NASDAQ:USAU) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of US Gold (NASDAQ:USAU) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks reports.

A number of other research analysts have also recently commented on USAU. Weiss Ratings restated a “sell (d-)” rating on shares of US Gold in a research note on Friday, July 17th. Wall Street Zen upgraded US Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, US Gold has an average rating of “Hold” and an average target price of $26.75.

US Gold Trading Down 10.4%

NASDAQ:USAU opened at $11.94 on Tuesday. The firm’s fifty day simple moving average is $15.20 and its 200 day simple moving average is $15.33. US Gold has a twelve month low of $11.65 and a twelve month high of $23.75. The firm has a market capitalization of $197.37 million, a price-to-earnings ratio of -9.40 and a beta of 1.00.

US Gold (NASDAQ:USAU) last announced its quarterly earnings results on Friday, September 11th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.14. On average, analysts predict that US Gold will post -1.07 earnings per share for the current year.

Institutional Investors Weigh In On US Gold

A number of large investors have recently added to or reduced their stakes in USAU. William Mack & Associates Inc. acquired a new position in US Gold in the 2nd quarter worth $1,380,000. Up Capital Management Inc. purchased a new position in US Gold in the 4th quarter valued at about $5,157,000. Renaissance Technologies LLC acquired a new stake in shares of US Gold during the first quarter valued at about $694,000. Bank of New York Mellon Corp grew its stake in shares of US Gold by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 26,061 shares of the technology company’s stock valued at $396,000 after acquiring an additional 1,468 shares in the last quarter. Finally, CoreCap Advisors LLC grew its stake in shares of US Gold by 33.5% during the third quarter. CoreCap Advisors LLC now owns 14,050 shares of the technology company’s stock valued at $209,000 after acquiring an additional 3,525 shares in the last quarter. 6.64% of the stock is owned by institutional investors and hedge funds.

About US Gold

U.S. Gold Corp. (NASDAQ: USAU) is a mineral exploration and development company focused on identifying and advancing gold and copper properties in the United States. The company does not operate as a producing mining company; its activities primarily include geological evaluation, drilling, resource exploration, permitting and project development.

The company’s principal asset is the CK Gold Project in southeastern Wyoming, a copper-gold exploration and development property located near Cheyenne.