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

U.S. GoldMining (NASDAQ:USGO) was downgraded by equities research 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 weighed in on USGO. HC Wainwright lifted their target price on U.S. GoldMining from $26.50 to $30.75 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of U.S. GoldMining in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. GoldMining presently has an average rating of “Hold” and an average price target of $30.75.

U.S. GoldMining Stock Performance

Shares of USGO stock opened at $10.77 on Friday. U.S. GoldMining has a one year low of $7.42 and a one year high of $17.98. The company has a 50 day moving average price of $12.43 and a 200 day moving average price of $11.38. The firm has a market capitalization of $143.48 million, a price-to-earnings ratio of -19.94 and a beta of 2.23.

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

Hedge Funds Weigh In On U.S. GoldMining

Hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in U.S. GoldMining by 33.3% in the 2nd 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. Geode Capital Management LLC raised its position in U.S. GoldMining by 61.0% in the second quarter. Geode Capital Management LLC now owns 52,480 shares of the company’s stock valued at $430,000 after purchasing an additional 19,875 shares during the period. Citadel Advisors LLC acquired a new position in shares of U.S. GoldMining during the third quarter worth about $200,000. Los Angeles Capital Management LLC purchased a new stake in shares of U.S. GoldMining in the fourth quarter worth about $181,000. Finally, Bank of America Corp DE boosted 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 worth $161,000 after buying an additional 10,708 shares during the period. Hedge funds and other 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.