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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#4325
Positioning
Market Dominance
Mining
Precious Metals
$163M
Tim Smith
We are an exploration stage company and our sole project is currently the Whistler Project. We have no operating revenues and do not anticipate generating revenues for the foreseeable future. Our principal executive offices are located at 1030 West Georgia Street, Suite 1830, Vancouver, British Columbia, Canada V6E 2Y3 and our head operating offices are located at 301 Calista Court, Suite 200, Office 203, Anchorage, Alaska.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$VALE Vale S.A. | 75 | 88 | 93 | 67 | - | - | 15.8% | 6.9% | 36.6% | 22.8% | 15.9% | -8.9% | 0.0% | 0.0x | $38.7B | VS | |
$SU SUNCOR ENERGY INC | 74 | 87 | 90 | 53 | - | - | 13.1% | 6.5% | 58.3% | 18.4% | 11.0% | -3.6% | 4.9% | 29.0x | $46.0B | VS | |
$TRX TRX GOLD Corp | 72 | 83 | 77 | 96 | - | - | 10.7% | 6.1% | 41.5% | 27.8% | 11.4% | 40.0% | 0.0% | 2.0x | $104M | VS | |
$ORLA Orla Mining Ltd. | 72 | 94 | 83 | 78 | - | - | 19.6% | 15.7% | 74.8% | 47.5% | 26.2% | 47.2% | 0.0% | 0.0x | $1.7B | VS | |
$KGC KINROSS GOLD CORP | 71 | 83 | 89 | 79 | - | - | 15.1% | 9.3% | 37.8% | 31.6% | 20.0% | 21.3% | 1.3% | 21.0x | $11.4B | VS | |
$AEM AGNICO EAGLE MINES LTD | 71 | 80 | 80 | 71 | - | - | 9.4% | 6.5% | 60.5% | 36.0% | 22.9% | 25.0% | 2.0% | 6.0x | $38.9B | VS | |
$RIO RIO TINTO PLC | 70 | 76 | 84 | 64 | - | - | 20.3% | 11.2% | 23.0% | 20.1% | 23.1% | -1.3% | 11.2% | 26.0x | $93.8B | VS | |
$IAG IAMGOLD CORP | 70 | 71 | 82 | 89 | - | - | 29.9% | 17.1% | 33.7% | 57.8% | 51.9% | 65.4% | 0.0% | 34.0x | $2.5B | VS | |
$NGD New Gold Inc. /FI | 70 | 76 | 67 | 92 | - | - | 11.1% | 4.8% | 52.8% | 19.7% | 11.1% | 17.5% | 0.0% | 38.0x | $1.7B | VS | |
$PDS PRECISION DRILLING Corp | 70 | 77 | 90 | 65 | - | - | 6.6% | 3.6% | 34.4% | 11.0% | 5.9% | -10.0% | 0.0% | 52.0x | $876M | VS | |
$USGO U.S. GoldMining Inc. | 33 | 22 | 33 | 42 | - | - | -243.0% | -198.6% | - | - | - | - | 0.0% | 22.0x | $163M | ||
| SECTOR BENCH | - | - | - | - | - | 13.7x | 5.2x | 4.0% | 3.9% | 43.2% | 12.2% | 6.2% | 2.6% | 0.0% | 0.3x | - | REF |
U.S. GoldMining Inc. (USGO) receives a "Avoid" rating with a composite score of 32.6/100. It ranks #4325 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Tim Smith
Chief Executive Officer
22
25
35
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for USGO
In-line with peers — no strong momentum signal
Expensive relative to fundamentals — limited margin of safety
Weak fundamentals — higher risk of value trap
High volatility — wider range of outcomes increases timing risk
Aggressive spending — empire-building risk, dilutive growth
Below-average composite — caution warranted
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Relative valuation derived from Mining sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for USGO.
View All RatingsInsufficient data for Financial Analysis
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 22 | 10 | +12ALPHA |
| MOMENTUM | 42 | 43 | -1NEUTRAL |
| VALUATION | 33 | 31 | +2NEUTRAL |
| INVESTMENT | 25 | 12 | +13ALPHA |
| STABILITY | 35 | 28 | +7ALPHA |
| SHORT INT | 41 | 37 | +4NEUTRAL |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROE proxy -243.0% (sector 4.0%)
GM N/A vs sector 43%, OM N/A vs sector 12%
Capital turnover N/A
Rev growth N/A, 3yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our quantitative model flags U.S. GoldMining Inc. with an Avoid rating, assigning a composite score of 32.6/100 and 1 out of 5 stars. Ranked #4325 of 7,333 stocks, USGO falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
U.S. GoldMining Inc. registers a weak quality score of just 22/100, indicating significant profitability challenges. The company reports a return on equity of -243.0% (sector avg: 4.0%). Low quality scores are often associated with businesses in turnaround mode, early-stage growth, or structurally challenged industries.
With a value score of 33/100, USGO appears somewhat expensive relative to its fundamentals. Key valuation metrics include a P/B ratio of 37.82x. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
U.S. GoldMining Inc.'s investment score of 25/100 suggests limited reinvestment activity. Key growth metrics include a return on assets of -198.6% (sector: 3.9%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
USGO is currently showing below-average momentum at 42/100, which may indicate weakening institutional interest or negative sentiment shifts. Revenue growth data is not currently available, while a beta of 0.84 reflects its sensitivity to broader market moves. Investors should note that declining momentum can precede further price weakness, though contrarian opportunities sometimes emerge at these levels.
USGO's stability score of 35/100 signals elevated volatility and/or leverage concerns. Key stability metrics include a beta of 0.84 and a debt-to-equity ratio of 22.00x (sector avg: 0.3x). Investors should be prepared for wider-than-average price swings and consider position sizing accordingly to manage portfolio risk.
The short interest score of 41/100 for USGO suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 22.00x), micro-cap liquidity risk. With a $163M market cap (micro-cap), U.S. GoldMining Inc. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
U.S. GoldMining Inc. is a micro-cap company in the Mining sector, ranked #0 of 50 in its sector (100th percentile) and #4325 of 7,333 overall (41st percentile). Key comparisons include ROE of -243.0% trailing the 4.0% sector median. This top-quartile standing reflects exceptional competitive strength relative to Mining peers.
While USGO currently exhibits a AVOID profile, superior opportunities exist within the MINING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Quality (22) would have the largest impact on the composite score.
ROE 6237% BELOW SECTOR MEDIAN
Debt/Equity 8362% ABOVE SECTOR MEDIAN
Div. Yield NaN% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate U.S. GoldMining Inc. (USGO) as Avoid with a composite score of 32.6/100 at a current price of $11.34. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in momentum (42th percentile) and stability (35th percentile), which together account for the majority of the composite score. Offsetting weakness in quality (22th percentile) and investment (25th percentile) tempers our overall conviction. We assign a No Moat rating (21/100), Medium uncertainty, and Poor capital allocation.
Key items to watch: quarterly earnings execution and sector-level competitive dynamics. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
U.S. GoldMining Inc. holds a top-quartile position (#0 of 50) within the Mining sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 32.6/100 places it at rank #4325 in our full 7,333-stock universe. At $163M in market capitalization, U.S. GoldMining Inc. is a small-cap player in the Mining space, which limits certain scale advantages but may allow for more agile strategic execution.
Momentum indicators (42th percentile) are neutral regarding the near-term price trend. Revenue growth data is unavailable, limiting our ability to confirm whether momentum is fundamentally supported.
Margin data is not available for U.S. GoldMining Inc., which limits our assessment of the company's cost structure and operating efficiency. We rely on factor-based signals to infer business quality in the absence of detailed margin data.
At a current price of $11.34, U.S. GoldMining Inc. is trading at a premium to fundamental value. Our value factor score of 33/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 37.8x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
A conservative balance sheet (22% D/E) provides financial flexibility for acquisitions, buybacks, or weathering economic downturns without dilution.
The Avoid rating (composite 32.6/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Below-average quality (22th percentile) raises durability concerns about the fundamental profile and increases the risk of negative earnings surprises.
We assign a Medium uncertainty rating to U.S. GoldMining Inc.. The stock presents a balanced risk profile: below-average price stability (35th percentile) and weak quality scores (22th percentile). While not risk-free, the core business fundamentals are adequate to withstand moderate economic stress, and the range of potential outcomes around our fair value estimate is manageable.
Specific risk factors that inform our assessment include: below-average price stability (35th percentile); weak quality scores (22th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 35th percentile and quality factor at the 22th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: conservative leverage (22% D/E) limits balance sheet risk. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile is favorable for long-term investors.
We rate U.S. GoldMining Inc.'s capital allocation as Poor. Key concerns include low returns on equity (-243.0%), weak asset returns (ROA -198.6%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — U.S. GoldMining Inc. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, U.S. GoldMining Inc. receives a Avoid rating with a composite score of 32.6/100 (rank #4325 of 7,333). Our quantitative framework assigns a No Moat (21/100, trend: stable), Medium uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 31/100.
Our analysis does not support a constructive view on U.S. GoldMining Inc. at this time. The combination of limited competitive advantages, medium uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign U.S. GoldMining Inc. a meaningful economic moat, scoring 21/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 10/20.
The strongest moat sources are margin superiority (10/20) and financial resilience (8.7/20). GM N/A vs sector 43%, OM N/A vs sector 12%. Interest coverage N/A. These pillars form the core of U.S. GoldMining Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and growth durability (0/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect U.S. GoldMining Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers are not clearly identifiable from current fundamentals. This may reflect a company in transition, a cyclical downturn, or structural challenges in the business model. We assign a quality factor of 22/100 which further underscores our concern regarding earnings sustainability.
Return metrics include ROE of -243.0% and ROA of -198.6%. Relative to the Mining sector, sector comparison data is limited, and ROE of -243.0% compares to a sector median of 4.0%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 22%. The sector median D/E is 0%, putting U.S. GoldMining Inc. at higher leverage than the typical peer. Overall balance sheet health is adequate for the current business environment.
U.S. GoldMining Inc. (NASDAQ: USGO) ("U.S. GoldMining" or the "Company") is pleased to announce the initial results of the 2025 exploration program at its 100% owned Whistler Gold-Copper Project (the "Whistler Project" or "Project"). The 2025 exploration program focused on targeting potential resource growth through developing new drill targets at the Whistler Orbit and Muddy Creek prospect areas; this release compiles the results from the scout drilling program completed over the Whistler Orbit
GoldMining's majority-owned subsidiary, U.S. GoldMining, has been added to the Russell 3000® Index, validating the success of its strategic IPO launch and highlighting the value created for shareholders. GoldMining also owns significant stakes in Gold Royalty Corp. and NevGold Corp.
GoldMining Inc. has renewed its at-the-market equity program, allowing the company to distribute up to $50 million of common shares. The proceeds will be used to fund exploration, development, and potential future acquisitions.
GoldMining Inc. reported positive drilling results from its 2025 exploration program at the São Jorge Project in Brazil, including a significant 19-meter intercept grading 1.00 g/t gold at 425 meters depth—one of the deepest intercepts at the project. The company also identified a large IP chargeability anomaly at William South prospect similar in scale to the known São Jorge deposit signature, with planned drilling in 2026 to test this emerging target.
Above 50MA
37.18%
Net New Highs
+51081