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

U.S. GoldMining Inc. (NASDAQ:USGO) saw a large increase in short interest in 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. Approximately 4.2% of the shares of the company are sold short. Based on an average trading volume of 44,200 shares, the days-to-cover ratio is currently 1.3 days.

U.S. GoldMining Stock Up 2.8 %

Shares of USGO traded up $0.28 during trading hours on Friday, reaching $10.40. 20,972 shares of the stock traded hands, compared to its average volume of 19,808. The company’s 50-day moving average price is $7.35 and its two-hundred day moving average price is $6.47. U.S. GoldMining has a 52-week low of $4.91 and a 52-week high of $14.46.

Analysts Set New Price Targets

Separately, HC Wainwright raised their target price on shares of U.S. GoldMining from $23.50 to $24.00 and gave the stock a “buy” rating in a research note 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.