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

U.S. GoldMining (NASDAQ:USGO) released its earnings results on Tuesday. The company reported ($0.58) earnings per share (EPS) for the quarter, FiscalAI reports.

U.S. GoldMining Price Performance

USGO stock traded down $0.74 during trading on Tuesday, hitting $5.06. 166,386 shares of the company traded hands, compared to its average volume of 92,141. U.S. GoldMining has a 1 year low of $4.35 and a 1 year high of $17.98. The company has a market cap of $71.04 million, a PE ratio of -5.82 and a beta of 2.06. The stock’s 50-day simple moving average is $6.56 and its 200 day simple moving average is $9.68.

Analysts Set New Price Targets

Several research firms have weighed in on USGO. HC Wainwright reiterated a “buy” rating and set a $30.75 price target on shares of U.S. GoldMining in a research note on Wednesday, September 9th. Weiss Ratings restated a “sell (e+)” rating on shares of U.S. GoldMining in a research note on Friday, September 25th. Finally, Wall Street Zen raised U.S. GoldMining from a “strong sell” rating to a “sell” rating in a report on Saturday, October 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, U.S. GoldMining currently has a consensus rating of “Hold” and a consensus price target of $30.75.

Hedge Funds Weigh In On U.S. GoldMining

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of U.S. GoldMining during the 2nd quarter valued at about $1,431,000. GSA Capital Partners LLP acquired a new position in U.S. GoldMining in the 2nd quarter worth about $264,000. International Assets Investment Management LLC purchased a new position in U.S. GoldMining during the first quarter worth approximately $161,000. Themes Management Co LLC purchased a new position in U.S. GoldMining during the first quarter worth approximately $139,000. Finally, Russell Investments Group Ltd. grew its holdings in U.S. GoldMining by 61.2% in the third quarter. Russell Investments Group Ltd. now owns 23,636 shares of the company’s stock valued at $157,000 after purchasing an additional 8,976 shares during the period. 0.49% of the stock is owned by hedge funds and other institutional investors.

About U.S. GoldMining

U.S. GoldMining Inc. is a mineral exploration and development company focused on advancing gold and copper assets in the United States. The company is not currently a producing mining company; its activities include mineral exploration, resource evaluation, technical studies and project development. The company’s principal asset is the 100%-owned Whistler project in south-central Alaska, approximately 170 kilometers southwest of Anchorage. The project includes the Whistler, Raintree and Island Mountain deposits and is being evaluated for its potential to host a large-scale gold-copper development.