U.S. GoldMining (NASDAQ:USGO) Releases Earnings Results

U.S. GoldMining (NASDAQ:USGO) posted its quarterly earnings results on Wednesday. The company reported ($0.36) earnings per share (EPS) for the quarter, FiscalAI reports.

U.S. GoldMining Price Performance

Shares of NASDAQ USGO traded down $0.02 during trading on Wednesday, hitting $8.81. The stock had a trading volume of 71,044 shares, compared to its average volume of 82,055. U.S. GoldMining has a 12 month low of $7.16 and a 12 month high of $17.98. The company has a market capitalization of $117.65 million, a PE ratio of -15.19 and a beta of 1.86. The firm has a fifty day moving average of $8.13 and a two-hundred day moving average of $10.81.

Institutional Investors Weigh In On U.S. GoldMining

A number of institutional investors have recently added to or reduced their stakes in USGO. Geode Capital Management LLC increased its stake in U.S. GoldMining by 61.0% in the 2nd quarter. Geode Capital Management LLC now owns 52,480 shares of the company’s stock valued at $430,000 after buying an additional 19,875 shares during the last quarter. New York State Common Retirement Fund bought a new position in shares of U.S. GoldMining in the second quarter valued at approximately $93,000. Bank of America Corp DE increased its position in shares of U.S. GoldMining by 580.1% during the third quarter. Bank of America Corp DE now owns 12,554 shares of the company’s stock valued at $161,000 after acquiring an additional 10,708 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of U.S. GoldMining during the third quarter valued at approximately $200,000. Finally, Goldman Sachs Group Inc. bought a new stake in U.S. GoldMining during the fourth quarter worth $131,000. 0.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on USGO shares. Weiss Ratings downgraded shares of U.S. GoldMining from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Wall Street Zen downgraded U.S. GoldMining from a “hold” rating to a “sell” rating in a research note on Sunday, May 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $30.75 price objective on shares of U.S. GoldMining in a report on Thursday, June 25th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.