US Gold (NASDAQ:USAU) Share Price Passes Below 200 Day Moving Average – Here’s Why

US Gold Corp (NASDAQ:USAU)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.55 and traded as low as $15.27. US Gold shares last traded at $15.59, with a volume of 176,342 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on USAU shares. Wall Street Zen lowered US Gold from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of US Gold in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.75.

US Gold Stock Down 3.1%

The business has a fifty day moving average price of $15.05 and a 200-day moving average price of $15.52. The company has a market cap of $258.69 million, a P/E ratio of -12.32 and a beta of 0.94.

US Gold (NASDAQ:USAU) last released its quarterly earnings results on Friday, September 11th. The technology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.14. As a group, research analysts expect that US Gold Corp will post -1.07 earnings per share for the current year.

Hedge Funds Weigh In On US Gold

A number of hedge funds have recently bought and sold shares of the business. Ameritas Advisory Services LLC acquired a new stake in US Gold in the 2nd quarter worth about $42,000. Bank of New York Mellon Corp acquired a new stake in shares of US Gold in the second quarter valued at approximately $489,000. William Mack & Associates Inc. bought a new stake in shares of US Gold in the second quarter valued at approximately $1,380,000. FNY Investment Advisers LLC bought a new stake in shares of US Gold in the second quarter valued at approximately $30,000. Finally, Bank of America Corp DE grew its position in US Gold by 25.9% during the first quarter. Bank of America Corp DE now owns 13,174 shares of the technology company’s stock worth $200,000 after buying an additional 2,710 shares in the last quarter. 6.64% of the stock is owned by institutional investors.

US Gold Company Profile

US Gold Corp. (NASDAQ: USAU) is a U.S.-focused mineral exploration and development company. The company’s activities center on identifying, evaluating and advancing gold and copper projects rather than operating producing mines.

Its principal asset is the CK Gold Project in southeastern Wyoming, a gold-copper development project also known as Copper King. US Gold Corp. has worked on exploration, engineering, permitting and economic evaluation for the project, with the goal of determining its potential for future development.

The company also holds the Keystone property in Nevada, an exploration project located within the prospective Cortez gold trend.