Wall Street Zen Downgrades U.S. GoldMining (NASDAQ:USGO) to Strong Sell

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

Other analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of U.S. GoldMining from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. HC Wainwright reaffirmed a “buy” rating and set a $30.75 target price on shares of U.S. GoldMining in a report on Thursday, June 25th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.75.

U.S. GoldMining Stock Performance

Shares of U.S. GoldMining stock opened at $8.83 on Friday. The firm has a 50-day moving average of $8.11 and a 200-day moving average of $10.71. The stock has a market cap of $123.97 million, a PE ratio of -10.15 and a beta of 1.86. U.S. GoldMining has a 52-week low of $7.16 and a 52-week high of $17.98.

U.S. GoldMining (NASDAQ:USGO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.36) EPS for the quarter. Equities research analysts predict that U.S. GoldMining will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in USGO. BlackRock Inc. bought a new stake in U.S. GoldMining during the second quarter worth $1,431,000. Renaissance Technologies LLC boosted its holdings 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of U.S. GoldMining by 14.8% in the 4th quarter. Geode Capital Management LLC now owns 59,576 shares of the company’s stock valued at $526,000 after purchasing an additional 7,667 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of U.S. GoldMining in the 2nd quarter valued at $264,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of U.S. GoldMining during the 4th quarter worth $181,000. 0.49% of the stock is owned by 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.