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

U.S. GoldMining (NASDAQ:USGO) released its earnings results on Friday. The company reported ($0.02) earnings per share for the quarter, FiscalAI reports.

U.S. GoldMining Stock Performance

U.S. GoldMining stock traded up $0.30 during mid-day trading on Friday, reaching $12.05. The company’s stock had a trading volume of 62,306 shares, compared to its average volume of 103,657. The firm’s fifty day moving average price is $11.39 and its two-hundred day moving average price is $10.80. U.S. GoldMining has a 12-month low of $7.42 and a 12-month high of $17.98. The company has a market capitalization of $159.94 million, a P/E ratio of -22.74 and a beta of 2.17.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of U.S. GoldMining in a research report on Friday, January 9th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.50.

Hedge Funds Weigh In On U.S. GoldMining

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in U.S. GoldMining by 148.6% during the 4th quarter. Renaissance Technologies LLC now owns 73,100 shares of the company’s stock worth $645,000 after purchasing an additional 43,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in U.S. GoldMining by 14.8% during the 4th quarter. Geode Capital Management LLC now owns 59,576 shares of the company’s stock valued at $526,000 after buying an additional 7,667 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of U.S. GoldMining by 33.3% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,000 shares of the company’s stock valued at $197,000 after buying an additional 6,000 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of U.S. GoldMining during the fourth quarter valued at about $181,000. Finally, State Street Corp lifted its holdings in shares of 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 buying an additional 2,822 shares in the last quarter. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

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.