Short Interest in U.S. GoldMining Inc. (NASDAQ:USGO) Rises By 47.8%

U.S. GoldMining Inc. (NASDAQ:USGO) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 39,600 shares, a growth of 47.8% from the January 31st total of 26,800 shares. Based on an average daily volume of 52,900 shares, the days-to-cover ratio is presently 0.7 days. Approximately 2.7% of the shares of the company are short sold.

U.S. GoldMining Stock Performance

NASDAQ:USGO opened at $10.13 on Tuesday. U.S. GoldMining has a 12-month low of $5.00 and a 12-month high of $14.46. The business has a 50 day simple moving average of $9.74 and a 200 day simple moving average of $8.98.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in U.S. GoldMining during the 4th quarter worth $112,000. Northern Trust Corp boosted its position in U.S. GoldMining by 124.4% during the 4th 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 acquired a new position in U.S. GoldMining during the 4th quarter worth $116,000. Renaissance Technologies LLC acquired a new position in U.S. GoldMining during the 4th quarter worth $91,000. Finally, Geode Capital Management LLC boosted its position in U.S. GoldMining by 38.5% during the 4th 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 during the period. Institutional investors and hedge funds own 0.49% of the company’s stock.

About U.S. GoldMining

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.