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

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

Institutional Investors Weigh In On U.S. GoldMining

Several large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of U.S. GoldMining during the 4th quarter worth approximately $112,000. Northern Trust Corp raised its stake in U.S. GoldMining by 124.4% during 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 in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of U.S. GoldMining during the fourth quarter valued at $116,000. Renaissance Technologies LLC acquired a new stake in shares of U.S. GoldMining in the 4th quarter valued at $91,000. Finally, Geode Capital Management LLC grew its holdings in shares of U.S. GoldMining by 38.5% in the 4th quarter. Geode Capital Management LLC now owns 31,196 shares of the company’s stock worth $269,000 after purchasing an additional 8,667 shares during the last quarter. 0.49% of the stock is currently owned by institutional investors.

U.S. GoldMining Price Performance

NASDAQ USGO opened at $8.96 on Wednesday. U.S. GoldMining has a twelve month low of $5.00 and a twelve month high of $14.46. The company’s 50-day simple moving average is $10.17 and its 200 day simple moving average is $9.62.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $26.50 price target on shares of U.S. GoldMining in a research note 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.