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

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

U.S. GoldMining Stock Performance

Shares of USGO traded down $0.04 during trading hours on Monday, hitting $10.43. 21,915 shares of the company were exchanged, compared to its average volume of 38,471. The firm's 50 day moving average is $10.09 and its 200-day moving average is $9.93. U.S. GoldMining has a 52 week low of $5.00 and a 52 week high of $14.46.

Hedge Funds Weigh In On U.S. GoldMining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USGO. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 8,667 shares during the period. 683 Capital Management LLC acquired a new stake in shares of U.S. GoldMining in the fourth quarter valued at about $267,000. Northern Trust Corp increased 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 purchasing an additional 15,011 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in U.S. GoldMining during the 4th quarter valued at approximately $116,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in U.S. GoldMining in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

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

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.