Short Interest in U.S. GoldMining Inc. (NASDAQ:USGO) Grows By 2,576.2%

U.S. GoldMining Inc. (NASDAQ:USGO) was the recipient 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. Based on an average daily trading volume, of 44,200 shares, the days-to-cover ratio is currently 1.3 days. Currently, 4.2% of the company’s stock are short sold.

Analysts Set New Price Targets

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

U.S. GoldMining Price Performance

Shares of NASDAQ USGO traded up $0.28 during midday trading on Friday, hitting $10.40. 20,972 shares of the company’s stock traded hands, compared to its average volume of 19,808. The firm has a fifty day moving average of $7.35 and a 200 day moving average of $6.47. U.S. GoldMining has a 1 year low of $4.91 and a 1 year high of $14.46.

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.