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

U.S. GoldMining Inc. (NASDAQ:USGO) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 56,200 shares, an increase of 2,576.2% from the September 30th total of 2,100 shares. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily volume of 44,200 shares, the days-to-cover ratio is currently 1.3 days.

U.S. GoldMining Stock Up 2.8 %

USGO traded up $0.28 during trading on Friday, reaching $10.40. The stock had a trading volume of 20,972 shares, compared to its average volume of 19,808. The business has a 50-day moving average of $7.35 and a 200-day moving average of $6.46. U.S. GoldMining has a one year low of $4.91 and a one year high of $14.46.

Wall Street Analyst Weigh In

Separately, HC Wainwright increased their price target on shares of U.S. GoldMining from $23.50 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd.

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.