U.S. GoldMining (NASDAQ:USGO) Releases Earnings Results
by Michael Walen · The Markets DailyU.S. GoldMining (NASDAQ:USGO – Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.15) earnings per share for the quarter, Zacks reports.
U.S. GoldMining Stock Down 2.9%
Shares of USGO stock opened at $10.62 on Friday. U.S. GoldMining has a 12-month low of $7.42 and a 12-month high of $17.98. The firm has a fifty day moving average of $12.44 and a 200-day moving average of $11.29. The company has a market capitalization of $140.96 million, a price-to-earnings ratio of -20.04 and a beta of 2.23.
Wall Street Analysts Forecast Growth
USGO has been the topic of several analyst reports. HC Wainwright increased their target price on shares of U.S. GoldMining from $26.50 to $30.75 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of U.S. GoldMining in a report on Friday, January 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.75.
Hedge Funds Weigh In On U.S. GoldMining
A number of large investors have recently added to or reduced their stakes in USGO. Renaissance Technologies LLC raised its stake in shares of U.S. GoldMining by 148.6% in the 4th quarter. Renaissance Technologies LLC now owns 73,100 shares of the company’s stock valued at $645,000 after purchasing an additional 43,700 shares during the period. Geode Capital Management LLC grew its holdings in shares of U.S. GoldMining by 14.8% during the fourth quarter. Geode Capital Management LLC now owns 59,576 shares of the company’s stock worth $526,000 after buying an additional 7,667 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in U.S. GoldMining in the 4th quarter valued at approximately $181,000. State Street Corp lifted its stake in U.S. GoldMining by 19.3% in the 4th quarter. State Street Corp now owns 17,422 shares of the company’s stock valued at $154,000 after acquiring an additional 2,822 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in U.S. GoldMining in the 4th quarter valued at approximately $147,000. Institutional investors own 0.49% of the company’s stock.
About U.S. GoldMining
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.