U.S. GoldMining Inc. (NASDAQ:USGO) Short Interest Down 24.7% in August

U.S. GoldMining Inc. (NASDAQ:USGO) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 87,000 shares, a drop of 24.7% from the August 15th total of 115,500 shares. Approximately 4.5% of the shares of the company are short sold. Based on an average trading volume of 48,400 shares, the days-to-cover ratio is presently 1.8 days. Based on an average trading volume of 48,400 shares, the days-to-cover ratio is presently 1.8 days. Approximately 4.5% of the shares of the company are short sold.

Institutional Trading of U.S. GoldMining

Institutional investors have recently modified their holdings of the business. Northern Trust Corp lifted its stake in shares of U.S. GoldMining by 124.4% during the 4th quarter. Northern Trust Corp now owns 27,080 shares of the company’s stock valued at $233,000 after buying an additional 15,011 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of U.S. GoldMining by 38.5% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 18,000 shares of the company’s stock valued at $176,000 after buying an additional 5,000 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of U.S. GoldMining by 79.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 24,273 shares of the company’s stock valued at $238,000 after buying an additional 10,773 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of U.S. GoldMining by 61.0% during 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 in the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of U.S. GoldMining during the 2nd quarter valued at approximately $93,000. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

U.S. GoldMining Stock Down 1.2%

USGO opened at $9.23 on Friday. The stock has a market cap of $117.06 million, a price-to-earnings ratio of -13.98 and a beta of 1.97. U.S. GoldMining has a twelve month low of $5.65 and a twelve month high of $14.46. The company’s 50-day moving average price is $8.51 and its two-hundred day moving average price is $9.17.

U.S. GoldMining (NASDAQ:USGO) last released its earnings results on Wednesday, August 13th. The company reported ($0.07) earnings per share for the quarter. As a group, sell-side analysts anticipate that U.S. GoldMining will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on USGO. HC Wainwright reiterated a “buy” rating and set a $26.50 price target on shares of U.S. GoldMining in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of U.S. GoldMining from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $26.50.

U.S. GoldMining Company Profile

U.S. GoldMining Inc, an exploration stage company, engages in the exploration and development of mineral properties in the United States. The company's primary asset is the 100%-owned Whistler exploration property, a gold-copper exploration project comprising mining claims totaling 53,700 acres located in Yentna Mining District, Alaska.