Short Interest in U.S. GoldMining Inc. (NASDAQ:USGO) Declines By 14.5%

U.S. GoldMining Inc. (NASDAQ:USGO - Get Free Report) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 35,400 shares, a drop of 14.5% from the February 28th total of 41,400 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily volume of 47,000 shares, the days-to-cover ratio is currently 0.8 days.

U.S. GoldMining Stock Up 2.7 %

NASDAQ USGO traded up $0.24 during trading hours on Friday, reaching $9.13. 85,598 shares of the company's stock were exchanged, compared to its average volume of 37,402. The firm has a fifty day moving average of $10.17 and a 200-day moving average of $9.69. U.S. GoldMining has a one year low of $5.00 and a one year high of $14.46.

Wall Street Analyst Weigh In

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

Institutional Trading of U.S. GoldMining

Several large investors have recently made changes to their positions in USGO. 683 Capital Management LLC acquired a new position in U.S. GoldMining during the 4th quarter worth about $267,000. Northern Trust Corp raised its stake 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 worth $233,000 after acquiring an additional 15,011 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of U.S. GoldMining during the fourth quarter worth approximately $116,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of U.S. GoldMining during the fourth quarter valued at approximately $112,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of U.S. GoldMining in the fourth quarter valued at approximately $91,000. Institutional investors own 0.49% of the company's stock.

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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.