U.S. GoldMining Inc. (USGO)
NASDAQ:USGO
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U.S. GoldMining Inc.
(NASDAQ:USGO)
Select Model
Select Model
Rating:50Neutral
Price Target:
$12.50
▲(1.46% Upside)
Action:ReiteratedDate:04/11/26
The score is primarily constrained by weak financial performance (pre-revenue losses and continued cash burn). Technicals are moderately supportive, and corporate updates show meaningful project progress, but valuation metrics provide little support given the lack of meaningful P/E and no dividend yield.
Positive Factors
Robust Whistler PEA economics
A formal PEA with strong NPV and IRR and multi-year production and mine-life metrics provides a credible technical and economic foundation. This durable milestone supports future permitting, partner interest, larger-scale studies and de-risking of the project across a 2–6 month horizon and beyond.
Negative Factors
Pre-revenue, loss-making operations
Being pre-revenue means the business lacks operating cash inflows and depends on asset advancement rather than sales. Persistent losses limit internal funding for studies and permitting, maintaining execution risk and requiring external capital until production or a monetization event occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust Whistler PEA economics
A formal PEA with strong NPV and IRR and multi-year production and mine-life metrics provides a credible technical and economic foundation. This durable milestone supports future permitting, partner interest, larger-scale studies and de-risking of the project across a 2–6 month horizon and beyond.
Read all positive factors
U.S. GoldMining Inc. (USGO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$164.13M
Dividend YieldN/A
Average Volume (3M)105.14K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue GrowthN/A
EPS Growth37.18%
CountryUS
Employees6
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.22
Shares Outstanding13,322,293
10 Day Avg. Volume47,693
30 Day Avg. Volume105,144
Financial Highlights & Ratios
PEG Ratio2.80
Price to Book (P/B)230.73
Price to Sales (P/S)0.00
P/FCF Ratio-300.49
Enterprise Value/Market Cap0.84
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-837.26
Enterprise Value/Ebitda-20.05
Forecast
1Y Price Target
$30.75Price Target Upside149.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.47
Revenue Forecast (FY)N/A
U.S. GoldMining Inc. Business Overview & Revenue Model
Company Description
U.S. GoldMining Inc., an exploration stage company, engages in the exploration and development of mineral properties in the United States. It holds interests in the Whistler project, a gold-copper exploration project covering 17,159 Ha located in ...
How the Company Makes Money
USGO is an exploration-stage company and does not primarily generate revenue through ongoing sales of gold or other metals from mining operations. Its economic model is typically centered on (a) raising capital (e.g., equity financings) to fund ex...
U.S. GoldMining Inc. Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
63
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -165.18K | -165.18K | -143.80K | -52.01K | -19.25K | -17.62K |
| EBITDA | -6.90M | -6.95M | -8.34M | -9.30M | -1.72M | -679.70K |
| Net Income | -6.99M | -6.99M | -8.49M | -9.36M | -1.74M | -697.31K |
Balance Sheet | ||||||
| Total Assets | 192.91M | 8.45M | 5.15M | 13.02M | 229.62K | 439.79K |
| Cash, Cash Equivalents and Short-Term Investments | 52.59M | 26.32M | 3.88M | 11.40M | 54.51K | 5.63K |
| Total Debt | 275.00K | 88.39K | 109.39K | 135.35K | 677.78K | 494.48K |
| Total Liabilities | -48.72M | 836.57K | 704.02K | 811.04K | 1.51M | 704.12K |
| Stockholders Equity | 241.63M | 7.61M | 4.45M | 12.21M | -1.28M | -264.33K |
Cash Flow | ||||||
| Free Cash Flow | -4.05M | -5.84M | -7.92M | -10.41M | -1.32M | -636.12K |
| Operating Cash Flow | -5.84M | -5.84M | -7.75M | -9.43M | -1.32M | -636.12K |
| Investing Cash Flow | 727.00K | 2.04M | -171.84K | -979.52K | 0.00 | 316.21K |
| Financing Cash Flow | 18.33M | 9.30M | 599.82K | 21.84M | 1.37M | 321.09K |
U.S. GoldMining Inc. Technical Analysis
Positive
12.32
Price Trends
12.09
Positive
11.25
Positive
10.63
Positive
Market Momentum
0.05
Negative
54.01
Neutral
84.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For USGO, the sentiment is Positive. The current price of 12.32 is above the 20-day moving average (MA) of 11.56, above the 50-day MA of 12.09, and above the 200-day MA of 10.63, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 54.01 is Neutral, neither overbought nor oversold. The STOCH value of 84.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for USGO.
U.S. GoldMining Inc. Risk Analysis
U.S. GoldMining Inc. disclosed 38 risk factors in its most recent earnings report. U.S. GoldMining Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
U.S. GoldMining Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | $164.13M | ― | -8.88% | ― | ― | 37.18% | |
49 Neutral | $79.30M | -15.77 | -20.21% | ― | ― | 5.25% | |
46 Neutral | $75.08M | -2.36 | -18.55% | ― | ― | -80.01% | |
46 Neutral | $282.43M | -17.76 | -1.77% | ― | ― | -10.45% |
* Basic Materials Sector Average
USGO
U.S. GoldMining Inc.
12.32
1.82
17.33%
XPL
Solitario Resources
0.86
0.25
41.68%
WWR
Westwater Resources
0.61
0.05
10.00%
IONR
ioneer Limited Sponsored ADR
3.70
-0.05
-1.33%
U.S. GoldMining Inc. Corporate Events
Financial DisclosuresRegulatory Filings and Compliance
Preliminary Interim Financial Data Highlights Reporting Uncertainty
Negative
Apr 10, 2026
On April 10, 2026, GoldMining Inc., parent of U.S. GoldMining Inc., reported unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the three months ended February 28, 2026 and 2025, which ...
Business Operations and StrategyRegulatory Filings and Compliance
U.S. GoldMining Releases Whistler Project Initial Economic Assessment
Positive
Mar 23, 2026
On March 23, 2026, U.S. GoldMining Inc. announced it had filed both an S-K 1300 technical report summary and a Canadian NI 43-101 technical report detailing the initial economic assessment for its Whistler Gold-Copper Project in Alaska. The 2026 W...
Business Operations and StrategyRegulatory Filings and Compliance
U.S. GoldMining Releases New Whistler Project Assessment
Positive
Mar 19, 2026
On March 19, 2026, U.S. GoldMining Inc. announced the release of a new S-K 1300 Technical Report Summary and initial economic assessment for its Whistler Gold-Copper Project in Alaska, with an effective date of March 2, 2026. The report, prepared ...
Financial DisclosuresRegulatory Filings and Compliance
U.S. GoldMining Provides Preliminary 2025 Financial Information
Neutral
Feb 27, 2026
On February 27, 2026, parent company GoldMining Inc. filed audited financial statements for the years ended November 30, 2025 and 2024, along with a 2025 management’s discussion and analysis, with the U.S. Securities and Exchange Commission,...
Executive/Board Changes
U.S. GoldMining Raises CEO and CFO Base Salaries
Neutral
Jan 22, 2026
On January 21, 2026, U.S. GoldMining Inc.’s compensation committee approved increases to the base annual salaries of Chief Executive Officer Tim Smith and Chief Financial Officer Tyler Wong, with the changes effective retroactively from Janu...
Business Operations and Strategy
U.S. GoldMining announces new Whistler exploration targets
Positive
Jan 20, 2026
On January 20, 2026, U.S. GoldMining reported initial results from its 2025 exploration program at the Whistler Gold-Copper Project in Alaska, detailing a scout drilling campaign conducted between August and October 2025 over the Whistler Orbit ar...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.