Tearsheet

US Goldmining (USGO)


Market Price (6/18/2026): $8.37 | Market Cap: $111.4 MilSector: Materials | Industry: Diversified Metals & Mining

US Goldmining (USGO)


Market Price (6/18/2026): $8.37
Market Cap: $111.4 Mil
Sector: Materials
Industry: Diversified Metals & Mining

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include Critical Materials & Precious Metals. Themes include Gold Mining & Production, Resource Exploration & Development, and Sustainable Mining Practices.

Weak multi-year price returns
2Y Excs Rtn is -5.1%, 3Y Excs Rtn is -101%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -7.8 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11%

Key risks
USGO key risks include [1] its primary asset being an exploration-stage project with no identified mineral reserves or revenue, Show more.

0 Megatrend and thematic drivers
Megatrends include Critical Materials & Precious Metals. Themes include Gold Mining & Production, Resource Exploration & Development, and Sustainable Mining Practices.
1 Weak multi-year price returns
2Y Excs Rtn is -5.1%, 3Y Excs Rtn is -101%
2 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -7.8 Mil
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11%
5 Key risks
USGO key risks include [1] its primary asset being an exploration-stage project with no identified mineral reserves or revenue, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/9/2026

US Goldmining (USGO) stock has lost about 30% since 2/28/2026 because of the following key factors:

1. Widened Fiscal Q1 2026 Net Loss and Increased Operating Expenses.

U.S. GoldMining (USGO), which has a fiscal year-end of December 31, reported a widened net loss of $1.93 million for fiscal Q1 2026 (ended March 31, 2026), compared to a net loss of $1.29 million in the prior year's comparable quarter. This represented a loss per share of $0.14 for fiscal Q1 2026, up from $0.10 in fiscal Q1 2025. The increased loss was primarily attributed to higher exploration expenses, which rose to $0.53 million from $0.22 million, and increased general and administrative costs of $1.41 million, including higher stock-based compensation. As an exploration-stage company, US Goldmining generated no operating revenue during this period.

2. Significant Decline in Gold Prices.

The price of gold experienced a notable decline during the specified period, directly impacting the sentiment and valuation of gold mining companies. After reaching an intraday all-time high above $5,414 per ounce on January 27, 2026, gold prices saw a "deeper pullback," falling below $4,500 by mid-March 2026. Gold prices fell by more than 10% in March 2026 alone, marking its largest monthly decline since June 2013. By June 10, 2026, gold had fallen to $4,190.62 per troy ounce, reflecting an 11.51% drop over the preceding month and approximately 16.6% below its January peak.

Show more
Updated on 6/9/2026

US Goldmining (USGO) stock has lost about 30% since 2/28/2026 because of the following key factors:

1. Widened Fiscal Q1 2026 Net Loss and Increased Operating Expenses.

U.S. GoldMining (USGO), which has a fiscal year-end of December 31, reported a widened net loss of $1.93 million for fiscal Q1 2026 (ended March 31, 2026), compared to a net loss of $1.29 million in the prior year's comparable quarter. This represented a loss per share of $0.14 for fiscal Q1 2026, up from $0.10 in fiscal Q1 2025. The increased loss was primarily attributed to higher exploration expenses, which rose to $0.53 million from $0.22 million, and increased general and administrative costs of $1.41 million, including higher stock-based compensation. As an exploration-stage company, US Goldmining generated no operating revenue during this period.

2. Significant Decline in Gold Prices.

The price of gold experienced a notable decline during the specified period, directly impacting the sentiment and valuation of gold mining companies. After reaching an intraday all-time high above $5,414 per ounce on January 27, 2026, gold prices saw a "deeper pullback," falling below $4,500 by mid-March 2026. Gold prices fell by more than 10% in March 2026 alone, marking its largest monthly decline since June 2013. By June 10, 2026, gold had fallen to $4,190.62 per troy ounce, reflecting an 11.51% drop over the preceding month and approximately 16.6% below its January peak.

3. Depleting Cash Reserves for an Exploration-Stage Company.

U.S. GoldMining's cash and cash equivalents decreased significantly to $4.71 million as of March 31, 2026, down from $7.38 million at December 31, 2025. As a company in the exploration stage with no revenue generation, this reduction in cash highlights ongoing operational expenditures. While the company stated its liquidity is supported by existing cash, warrant exercises, and an at-the-market equity program, the diminishing cash balance without a clear path to revenue can raise investor concerns regarding future funding and financial stability in a volatile market.

4. Broader Macroeconomic Uncertainty and Federal Reserve Policy.

The general macroeconomic environment, particularly the stance of the Federal Reserve, created headwinds for gold prices and, consequently, gold exploration companies. Elevated US real yields and expectations of a "tighter-for-longer Federal Reserve policy" were cited as a "countervailing headwind" for gold. Geopolitical risks and the potential for a strengthening US dollar also played a role, as a stronger dollar makes gold more expensive for non-dollar buyers. Gold closing below its 200-day moving average in 2026, erasing year-to-date gains, further reflected market anxieties about these broader economic factors.

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Stock Movement Drivers

Fundamental Drivers

The -31.8% change in USGO stock from 2/28/2026 to 6/17/2026 was primarily driven by a -4.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820266172026Change
Stock Price ($)12.048.21-31.8%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)1313-4.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/17/2026
ReturnCorrelation
USGO-31.8% 
Market (SPY)8.3%63.1%
Sector (XLB)-2.2%54.7%

Fundamental Drivers

The -16.8% change in USGO stock from 11/30/2025 to 6/17/2026 was primarily driven by a -4.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)113020256172026Change
Stock Price ($)9.878.21-16.8%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)1313-4.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/17/2026
ReturnCorrelation
USGO-16.8% 
Market (SPY)9.0%37.4%
Sector (XLB)17.5%40.4%

Fundamental Drivers

The -9.4% change in USGO stock from 5/31/2025 to 6/17/2026 was primarily driven by a -6.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120256172026Change
Stock Price ($)9.068.21-9.4%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)1213-6.4%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/17/2026
ReturnCorrelation
USGO-9.4% 
Market (SPY)27.2%27.3%
Sector (XLB)22.9%30.1%

Fundamental Drivers

The -44.9% change in USGO stock from 5/31/2023 to 6/17/2026 was primarily driven by a -8.8% change in the company's Shares Outstanding (Mil).
(LTM values as of)53120236172026Change
Stock Price ($)14.908.21-44.9%
Change Contribution By: 
Total Revenues ($ Mil)00.0%
P/S Multiple0.0%
Shares Outstanding (Mil)1213-8.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/17/2026
ReturnCorrelation
USGO-44.9% 
Market (SPY)84.3%16.7%
Sector (XLB)47.1%19.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
USGO Return---19%18%2%-6%-8%
Peers Return353%-30%-30%12%202%-0%650%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
USGO Win Rate--33%58%33%33% 
Peers Win Rate44%28%37%48%68%47% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
USGO Max Drawdown----37%-41%-51% 
Peers Max Drawdown-52%-60%-59%-57%-39%-47% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: NFGC, GORO, PPTA, IAUX, ITRG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/17/2026 (YTD)

How Low Can It Go

EventUSGOS&P 500
2025 US Tariff Shock
  % Loss-32.7%-18.8%
  % Gain to Breakeven48.5%23.1%
  Time to Breakeven196 days79 days
2024 Yen Carry Trade Unwind
  % Loss-14.0%-7.8%
  % Gain to Breakeven16.3%8.5%
  Time to Breakeven41 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-59.5%-9.5%
  % Gain to Breakeven146.8%10.5%
  Time to Breakeven342 days24 days

Compare to NFGC, GORO, PPTA, IAUX, ITRG

In The Past

US Goldmining's stock fell -32.7% during the 2025 US Tariff Shock. Such a loss loss requires a 48.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventUSGOS&P 500
2025 US Tariff Shock
  % Loss-32.7%-18.8%
  % Gain to Breakeven48.5%23.1%
  Time to Breakeven196 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-59.5%-9.5%
  % Gain to Breakeven146.8%10.5%
  Time to Breakeven342 days24 days

Compare to NFGC, GORO, PPTA, IAUX, ITRG

In The Past

US Goldmining's stock fell -32.7% during the 2025 US Tariff Shock. Such a loss loss requires a 48.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About US Goldmining (USGO)

US Goldmining Inc. (USGO) is an exploration-stage company focused on identifying and potentially developing gold and copper deposits. Its primary asset is the Whistler Project, an early-stage gold-copper exploration site located in the Yentna Mining District of Alaska. The company also aims to evaluate and acquire additional gold and gold-copper projects throughout the Americas as part of its future growth strategy.

As an exploration company, US Goldmining currently has no operating revenues and does not anticipate generating any in the foreseeable future. Consequently, it does not yet offer specific products or services to customers, nor does it serve a traditional market. Its business is entirely centered on the exploration and potential discovery of economically viable mineral resources, with the long-term objective of eventually extracting and selling gold and copper into the global commodities market.

AI Analysis | Feedback

1. Think of it like a pre-revenue biotech startup, but for discovering gold deposits instead of developing drugs.

2. It's like an early-stage oil and gas exploration company, but focused on finding gold and copper deposits.

AI Analysis | Feedback

  • Gold and Copper Exploration: Identifying and evaluating mineral deposits for gold and copper through geological surveying, drilling, and analysis, as exemplified by the Whistler Project.
  • Mineral Asset Development: Advancing identified gold and gold-copper projects towards potential future production, including activities such as resource definition and feasibility studies.

AI Analysis | Feedback

US Goldmining (symbol: USGO) is an exploration-stage company focused on the Whistler Project, a gold-copper exploration project in Alaska. As explicitly stated in its company description, "We have no operating revenues and do not anticipate generating revenues for the foreseeable future."

Given this, US Goldmining currently has no customers, as it is not yet generating sales or revenues from the extraction and sale of gold or copper.

AI Analysis | Feedback

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AI Analysis | Feedback

Tim Smith, President & CEO

Mr. Smith has over 25 years of experience in mineral exploration and mining, primarily focusing on gold systems across Australia and Canada. He has a proven track record of discovery, notably leading the team at the Coffee Gold Deposit in Yukon, Canada, as Vice President Exploration for Kaminak Gold Corporation. Kaminak Gold Corporation was subsequently acquired by Goldcorp Inc. for C$520 million in 2016. His career also includes roles as Regional Director Generative Exploration, North America for Newmont Corporation from June 2019 to April 2022, and Exploration Director for Goldcorp Inc. from August 2016 to June 2019. He spent 15 years working in the Australian outback before moving to Canada in 2010.

Tyler Wong, Chief Financial Officer

Mr. Wong brings over 15 years of financial and accounting experience with publicly listed companies on NASDAQ, NYSE, TSX, and TSX-V. He possesses extensive knowledge in financial reporting, SOX, and internal controls. Prior to his appointment as Chief Financial Officer on December 20, 2024, he served as the company's Interim Chief Financial Officer, Secretary, and Treasurer. His background includes serving as Corporate Controller for GoldMining Inc., Gold Royalty Corp., and Uranium Royalty Corp., and he is an alumnus of the audit and assurance group at Deloitte LLP, specializing in the mining sector.

Imola Götz, Vice President, Project Development

Ms. Götz is a veteran mining engineer with over 30 years of international experience in both open-pit and underground mining environments. Her experience spans world-renowned gold mining camps such as Hemlo and Timmins. She is an expert in developing life of mine plans, strategic business plans, and comparative economic evaluations of mining projects. Ms. Götz has held progressive leadership roles at major mining companies including Goldcorp, Newmont, Eldorado Gold, Sandstorm Gold Royalties, and Royal Gold. She is responsible for leading the advancement and development of engineering, procurement, construction management, and project controls for the Whistler Project.

Alastair Still, Chairman of the Board

Mr. Still is a co-founder of U.S. GoldMining and an experienced mining industry professional with over 25 years of experience, including working for some of the world's largest gold miners. He was appointed as a director and Chairman of the company on September 12, 2022. Mr. Still also serves as Chief Executive Officer of GoldMining and Director of Technical Services for Gold Royalty Corp. He has extensive experience in corporate development, including global M&A evaluations, due diligence, and acquisitions.

Garnet Dawson, Director

Mr. Dawson served as the President of U.S. GoldMining from 2015 through September 12, 2022. He has been a member of the board of directors of GoldMining, the parent company, since 2018, and Freegold Ventures Limited since 2011. Additionally, he has served on the board of directors of Spanish Mountain Gold Ltd. since October 2022. Mr. Dawson was the Chief Executive Officer of GoldMining from 2014 to April 2021.

AI Analysis | Feedback

The key risks to US Goldmining (USGO) are primarily associated with its status as an exploration-stage company, its sole project dependency, and its susceptibility to fluctuating metal prices.
  • Exploration Stage with No Operating Revenues and High Cash Burn: US Goldmining is an exploration-stage company with no operating revenues and does not anticipate generating any in the foreseeable future. The company's business model involves significant cash burn for exploration and development, leading to a limited cash runway and the necessity for future financing, which could result in shareholder dilution. An investment in the company's securities is considered speculative due to the early stage of its mineral properties.
  • Single Project Dependency: The company's success is entirely dependent on the exploration, development, and eventual operation of its Whistler Project, which is currently its only project. This singular focus means that any adverse developments related to the Whistler Project could materially and adversely affect the company's future business, operations, and financial condition.
  • Metal Price Risk: As a gold-copper exploration project, US Goldmining is exposed to the inherent volatility of gold and copper prices. Fluctuations in these metal prices can significantly impact the potential economic viability of the Whistler Project and, consequently, the company's overall prospects.

AI Analysis | Feedback

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AI Analysis | Feedback

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AI Analysis | Feedback

For US Goldmining (USGO), an exploration-stage company focused on its Whistler Gold-Copper Project, the anticipated drivers of future revenue growth over the next 2-3 years are intrinsically linked to the advancement of its project towards commercial production. Although the company currently has no operating revenues and does not anticipate generating revenues for the foreseeable future, a recent Preliminary Economic Assessment (PEA) outlines a pathway to production.

  1. Advancement of the Whistler Project Towards Commercial Production: The primary driver of future revenue growth will be the progression of the Whistler Project through key development stages. Following a positive Preliminary Economic Assessment (PEA), which projects an average annual production of 345,000 gold equivalent ounces during the first three years of operations, the company will focus on pre-feasibility and feasibility studies, securing necessary permits, and commencing mine construction. Construction is anticipated to take two years, suggesting that revenue generation could begin within or shortly after the 2-3 year timeframe.
  2. Expansion of Mineral Resources and Exploration Success: The PEA is based on indicated mineral resources at the Whistler Deposit, which is one of three known gold-copper deposits within the project. Continued successful exploration and resource definition at Whistler and other deposits, such as Island Mountain and Raintree, could lead to an expanded resource base. This expansion would enhance the project's overall economics, potentially increasing the scale and longevity of future mining operations, thereby driving long-term revenue growth.
  3. Favorable Gold and Copper Market Prices: As the Whistler Project is a gold-copper asset, the prevailing market prices for these commodities will significantly impact future revenue. The PEA highlighted that at current spot prices for gold and copper, the project's estimated after-tax net present value and internal rate of return substantially increase compared to base case prices. Sustained or rising prices for gold and copper during the development phase and into initial production would directly translate into higher revenues.
  4. Successful Project Financing and Strategic Partnerships: The estimated initial capital expenditure for construction is $1.28 billion. Securing the necessary funding through debt, equity, or strategic partnerships is critical for advancing the project to the construction and operational phases. Successful financing within the next 2-3 years will enable the transition from an exploration company to a revenue-generating producer.
  5. Efficient Permitting and Infrastructure Development: The timely acquisition of all necessary regulatory permits and the development of supporting infrastructure are crucial for maintaining the project's development schedule. The project's location at the end of a proposed access road, which would connect it to existing infrastructure, indicates the importance of such external developments. Expediting these processes will be vital in bringing the mine into operation on schedule, thereby driving the initiation of future revenue streams.

AI Analysis | Feedback

Share Issuance

  • U.S. GoldMining completed an Initial Public Offering (IPO) in April 2023, raising $20.0 million in gross proceeds by pricing 2,000,000 units at $10.00 per unit, with each unit comprising one share of common stock and one warrant.
  • In 2025, U.S. GoldMining raised $13.12 million in gross proceeds through an at-the-market (ATM) share program to fund exploration at the Whistler Project and general corporate activities.
  • As of June 30, 2025, the company had 1,740,992 outstanding share purchase warrants, each exercisable at $13.00 per share and expiring April 24, 2026.

Inbound Investments

  • The Initial Public Offering in April 2023 generated $20.0 million in gross proceeds from public investors.
  • The at-the-market share program in 2025 resulted in $13.12 million in gross proceeds.

Capital Expenditures

  • The $13.12 million raised through the at-the-market program in 2025 was partly allocated to funding exploration activities at the Whistler Project.
  • A Preliminary Economic Assessment (PEA) for the Whistler Project, announced in March 2026, estimated initial capital costs for construction at $1.28 billion, with construction anticipated to take two years.
  • The PEA also projected sustaining capital expenditures over the life of mine to be approximately $381.1 million, primarily for mine equipment ramp-up and staged expansion of the tailings storage facility.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

USGONFGCGOROPPTAIAUXITRGMedian
NameUS Goldm.New Foun.Gold Res.Perpetua.i-80 GoldIntegra . 
Mkt Price8.211.611.3124.901.522.722.17
Mkt Cap0.10.40.23.11.30.50.5
Rev LTM016131013424974
Op Inc LTM-8-6837-160-10471-38
FCF LTM-8-7210--1271-8
FCF 3Y Avg-8-73-6--106-9-9
CFO LTM-7-6437--10670-7
CFO 3Y Avg-8-6810--8919-8

Growth & Margins

USGONFGCGOROPPTAIAUXITRGMedian
NameUS Goldm.New Foun.Gold Res.Perpetua.i-80 GoldIntegra . 
Rev Chg LTM--121.2%-138.6%184.5%138.6%
Rev Chg 3Y Avg--19.8%-62.0%-40.9%
Rev Chg Q--255.7%-272.9%8.2%255.7%
QoQ Delta Rev Chg LTM-170.3%31.7%-40.3%1.9%36.0%
Op Inc Chg LTM14.5%-28.1%240.5%-684.9%-17.4%4,076.2%-1.4%
Op Inc Chg 3Y Avg-90.1%6.1%-2.4%-231.2%-15.2%1,380.3%-8.8%
Op Mgn LTM--431.9%28.5%--78.0%28.4%-24.8%
Op Mgn 3Y Avg---14.4%--132.7%--73.6%
QoQ Delta Op Mgn LTM-587.6%9.5%-25.1%1.8%17.3%
CFO/Rev LTM--408.0%28.5%--79.4%28.3%-25.5%
CFO/Rev 3Y Avg--6.0%--119.4%--56.7%
FCF/Rev LTM--461.5%7.4%--95.2%0.2%-47.5%
FCF/Rev 3Y Avg---9.9%--142.7%--76.3%

Valuation

USGONFGCGOROPPTAIAUXITRGMedian
NameUS Goldm.New Foun.Gold Res.Perpetua.i-80 GoldIntegra . 
Mkt Cap0.10.40.23.11.30.50.5
P/S-24.31.6-9.52.15.8
P/Op Inc-14.0-5.65.7-19.4-12.27.5-8.9
P/EBIT-14.0-6.66.7-19.4-6.015.1-6.3
P/E-14.3-6.632.1-22.0-5.456.5-6.0
P/CFO-14.6-6.05.7--12.07.5-6.0
Total Yield-7.0%-15.2%3.1%-4.5%-18.6%1.8%-5.8%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-8.5%-17.3%-18.5%--23.1%-19.5%-18.5%
D/E0.00.00.00.00.30.10.0
Net D/E-0.0-0.1-0.1-0.2-0.1-0.1-0.1

Returns

USGONFGCGOROPPTAIAUXITRGMedian
NameUS Goldm.New Foun.Gold Res.Perpetua.i-80 GoldIntegra . 
1M Rtn-32.3%-18.7%5.6%-6.5%4.1%7.9%-1.2%
3M Rtn-26.4%-17.9%12.0%-12.8%8.6%-9.9%-11.4%
6M Rtn-15.5%-40.8%52.7%-3.5%0.0%-33.7%-9.5%
12M Rtn-16.6%11.8%114.0%90.5%115.5%72.2%81.3%
3Y Rtn-29.5%-66.9%53.2%516.3%-31.2%189.8%11.9%
1M Excs Rtn-32.5%-18.9%5.4%-6.8%3.9%7.7%-1.4%
3M Excs Rtn-38.4%-29.9%-0.0%-24.8%-3.4%-21.9%-23.4%
6M Excs Rtn-21.5%-50.7%41.1%-16.1%-6.2%-44.9%-18.8%
12M Excs Rtn-40.1%-14.2%80.1%68.5%96.1%42.9%55.7%
3Y Excs Rtn-101.0%-136.3%-6.1%378.7%-104.6%110.8%-53.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil202220212020
Exploration and development of mineral properties000
Total000


Assets by Segment
$ Mil2025202420232022
Exploration and development of mineral properties85130
Total85130


Price Behavior

Price Behavior
Market Price$8.21 
Market Cap ($ Bil)0.1 
First Trading Date04/20/2023 
Distance from 52W High-48.1% 
   50 Days200 Days
DMA Price$11.51$11.37
DMA Trendupdown
Distance from DMA-28.6%-27.8%
 3M1YR
Volatility54.8%72.5%
Downside Capture368.42223.17
Upside Capture118.88142.75
Correlation (SPY)61.8%28.3%
USGO Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta2.833.102.562.091.510.82
Up Beta2.132.781.641.991.460.82
Down Beta0.862.901.130.610.860.50
Up Capture-9%120%276%327%202%50%
Bmk +ve Days13283667141432
Stock +ve Days6172758118340
Down Capture828%676%348%227%157%104%
Bmk -ve Days7132757109318
Stock -ve Days13233562126397

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with USGO
USGO-16.1%72.5%0.05-
Sector ETF (XLB)20.5%17.5%0.9130.4%
Equity (SPY)24.5%12.4%1.4828.3%
Gold (GLD)24.7%27.5%0.7944.6%
Commodities (DBC)22.7%18.9%0.9512.1%
Real Estate (VNQ)10.6%13.8%0.4914.7%
Bitcoin (BTCUSD)-38.7%42.4%-1.0424.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with USGO
USGO-1.7%80.2%0.29-
Sector ETF (XLB)6.0%19.0%0.2118.3%
Equity (SPY)13.4%17.1%0.6116.0%
Gold (GLD)16.9%18.3%0.7524.6%
Commodities (DBC)7.5%19.4%0.2916.8%
Real Estate (VNQ)1.9%18.9%0.0011.3%
Bitcoin (BTCUSD)12.3%54.2%0.421.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with USGO
USGO-0.8%80.2%0.29-
Sector ETF (XLB)10.1%20.7%0.4418.3%
Equity (SPY)15.2%18.0%0.7216.0%
Gold (GLD)12.4%16.1%0.6324.6%
Commodities (DBC)5.9%18.0%0.2616.8%
Real Estate (VNQ)5.3%20.7%0.2211.3%
Bitcoin (BTCUSD)60.4%66.8%1.001.9%

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Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 51520263.4%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest5.5 days
Basic Shares Quantity13.3 Mil
Short % of Basic Shares2.3%

Earnings Returns History

Updated 6/2/2026
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

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Report DateFiling DateFiling
03/31/202605/13/202610-Q
12/31/202503/20/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
12/31/202403/27/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/10/202410-Q
11/30/202302/21/202410-K
08/31/202310/10/202310-Q
05/31/202307/13/202310-Q
02/28/202304/20/2023424B4
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Report DateFiling DateFiling
03/31/202605/13/202610-Q
12/31/202503/20/202610-K
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
12/31/202403/27/202510-K
09/30/202411/13/202410-Q
06/30/202408/13/202410-Q
03/31/202405/10/202410-Q
11/30/202302/21/202410-K
08/31/202310/10/202310-Q
05/31/202307/13/202310-Q
02/28/202304/20/2023424B4
Core Cache Last Updated: 6/17/2026