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

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

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 research report on Tuesday, February 4th.

U.S. GoldMining Stock Performance

Shares of USGO traded down $0.33 during trading hours on Friday, hitting $10.47. The stock had a trading volume of 21,785 shares, compared to its average volume of 38,275. The firm has a 50-day moving average price of $10.13 and a 200 day moving average price of $9.90. U.S. GoldMining has a fifty-two week low of $5.00 and a fifty-two week high of $14.46.

Hedge Funds Weigh In On U.S. GoldMining

Hedge funds have recently bought and sold shares of the business. 683 Capital Management LLC acquired a new position in shares of U.S. GoldMining during the 4th quarter worth approximately $267,000. Northern Trust Corp raised its position in U.S. GoldMining by 124.4% during the fourth quarter. Northern Trust Corp now owns 27,080 shares of the company’s stock worth $233,000 after acquiring an additional 15,011 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in U.S. GoldMining during the fourth quarter valued at $116,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of U.S. GoldMining in the fourth quarter valued at about $112,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of U.S. GoldMining during the fourth quarter worth about $91,000. 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.