U.S. GoldMining Inc. (NASDAQ:USGO) Sees Significant Growth in Short Interest

U.S. GoldMining Inc. (NASDAQ:USGO) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 57,900 shares, a growth of 63.6% from the March 15th total of 35,400 shares. Based on an average daily volume of 52,300 shares, the short-interest ratio is currently 1.1 days. Currently, 4.0% of the shares of the stock are short sold.

U.S. GoldMining Trading Down 3.1 %

USGO traded down $0.33 during trading on Friday, reaching $10.47. The company’s stock had a trading volume of 21,785 shares, compared to its average volume of 38,275. The firm has a fifty day simple moving average of $10.13 and a two-hundred day simple moving average of $9.90. U.S. GoldMining has a 1 year low of $5.00 and a 1 year high of $14.46.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $26.50 target price on shares of U.S. GoldMining in a report on Tuesday, February 4th.

Hedge Funds Weigh In On U.S. GoldMining

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in U.S. GoldMining in the 4th quarter valued at $91,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of U.S. GoldMining during the 4th quarter worth $112,000. OMERS ADMINISTRATION Corp acquired a new position in shares of U.S. GoldMining during the 4th quarter valued at about $116,000. Northern Trust Corp grew its holdings in shares of U.S. GoldMining by 124.4% in the fourth quarter. Northern Trust Corp now owns 27,080 shares of the company’s stock valued at $233,000 after purchasing an additional 15,011 shares during the period. Finally, 683 Capital Management LLC acquired a new stake in U.S. GoldMining during the fourth quarter worth about $267,000. Hedge funds and other institutional investors own 0.49% of the company’s stock.

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.