In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on US Gold Corp (USAU – Research Report), with a price target of $2.70. The company’s shares closed last Monday at $1.07.
“We note that Orevada has an option to acquire a 70% interest in the Maggie Creek Project. This acquisition therefore provides U.S. Gold with a second exploration project along the prolific Carlin Trend in Nevada.”
According to TipRanks.com, Ihle is a 1-star analyst with an average return of -0.3% and a 43.2% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Currently, the analyst consensus on US Gold Corp is a Moderate Buy with an average price target of $2.70.
Based on US Gold Corp’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $1.49 million. In comparison, last year the company had a GAAP net loss of $1.48 million.
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U.S. Gold Corp. is an exploration stage company, which engages in the exploration and development of mineral properties. Its projects includes Keystone and Copper King. The company was founded in 1967 and is headquartered in Elko, NV.