U.S. GoldMining (NASDAQ:USGO) Cut to Sell at Wall Street Zen

U.S. GoldMining (NASDAQ:USGO) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently weighed in on USGO. HC Wainwright lifted their price target on U.S. GoldMining from $26.50 to $30.75 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of U.S. GoldMining in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, U.S. GoldMining currently has a consensus rating of “Hold” and an average target price of $30.75.

U.S. GoldMining Stock Performance

NASDAQ USGO opened at $10.77 on Friday. The stock has a 50-day simple moving average of $12.43 and a two-hundred day simple moving average of $11.35. The firm has a market capitalization of $143.46 million, a P/E ratio of -19.94 and a beta of 2.23. U.S. GoldMining has a fifty-two week low of $7.42 and a fifty-two week high of $17.98.

U.S. GoldMining (NASDAQ:USGO) last issued its quarterly earnings data on Friday, March 20th. The company reported ($0.15) earnings per share (EPS) for the quarter. As a group, analysts forecast that U.S. GoldMining will post -0.69 earnings per share for the current year.

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 holdings 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 worth $430,000 after acquiring an additional 19,875 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in 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 purchasing an additional 6,000 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of U.S. GoldMining in the second quarter valued at about $93,000. Bank of America Corp DE grew its position in shares of U.S. GoldMining by 580.1% in the third quarter. Bank of America Corp DE now owns 12,554 shares of the company’s stock valued at $161,000 after purchasing an additional 10,708 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in shares of U.S. GoldMining during the third quarter worth about $200,000. Institutional investors and hedge funds 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.