U.S. GoldMining (NASDAQ:USGO) Stock Price Up 3.4% – Still a Buy?

U.S. GoldMining Inc. (NASDAQ:USGO)’s stock price shot up 3.4% on Monday . The stock traded as high as $10.49 and last traded at $10.25. Approximately 31,276 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 36,032 shares. The stock had previously closed at $9.91.

Wall Street Analyst Weigh In

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

U.S. GoldMining Stock Performance

The stock’s fifty day moving average is $10.11 and its 200-day moving average is $9.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of U.S. GoldMining by 38.5% in the fourth quarter. Geode Capital Management LLC now owns 31,196 shares of the company’s stock worth $269,000 after acquiring an additional 8,667 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of U.S. GoldMining in the 4th quarter valued at approximately $91,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in U.S. GoldMining during the 4th quarter worth approximately $112,000. OMERS ADMINISTRATION Corp acquired a new stake in U.S. GoldMining during the 4th quarter worth approximately $116,000. Finally, Northern Trust Corp lifted its stake in 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 buying an additional 15,011 shares in the last quarter. 0.49% of the stock is currently owned by institutional investors.

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.