H.C. Wainwright lifts US Gold Corp stock target to $15, maintains Buy

On Monday, H.C. Wainwright showed confidence in US Gold Corp. (NASDAQ:USAU) by increasing its price target to $15.00, up from the previous $14.00, while retaining a Buy rating on the stock. Currently trading at $10.78, the stock has delivered impressive returns with an 81% gain over the past year. According to InvestingPro data, analyst targets range from $15.03 to $23.50, suggesting significant upside potential. The firm’s optimism stems from the ongoing advancements at the CK Gold Project, which is fully permitted and progressing towards definitive tests of alternative flotation technologies. These tests are expected to enhance recovery rates, reduce the plant footprint, and cut operating costs. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 12.52 and holds more cash than debt on its balance sheet, providing financial flexibility for project development.

The company is also considering the use of continuous filtration equipment over batch filtration, which has demonstrated favorable moisture content levels for dry-stack tailings placement. This is a key step towards finalizing the Feasibility Study (FS) for the site, which is slated to begin shortly. US Gold Corp.’s management is looking to finalize equipment selection for plant optimizations in the third quarter of 2025.

H.C. Wainwright emphasized US Gold Corp.’s strategy to prioritize American-sourced equipment and materials, which is particularly relevant in light of current tariff-related expenditures. The firm anticipates that the completion of the final FS will lead to significant project de-risking announcements. Furthermore, project financing or the initiation of development could be announced as early as the end of the fourth quarter of 2025 or the beginning of the first quarter of 2026. With a market capitalization of $134.6 million and beta of 1.51, investors should note that InvestingPro has identified 11 additional investment tips for USAU, including detailed analysis of its growth prospects and risk factors.

In their statement, H.C. Wainwright reiterated their Buy rating and underscored the potential for US Gold Corp. to make further progress, stating, "We expect work on the final Feasibility Study (FS) for the site to begin very soon. Management anticipates finalizing equipment selection for optimizations to its plant in 3Q25. We stress that the firm’s current project strategy prioritizes equipment and materials sourced in America given ongoing expenditures linked to tariffs. Looking ahead, and assuming the final FS is completed on time, we highlight the potential for further de-risking announcements and project financing or development commencement as soon as late 4Q25 or early 1Q26. Reiterate Buy rating and increase PT to $15 from $14."

In other recent news, U.S. Gold Corp. has successfully raised $7.3 million through the exercise of previously issued warrants. This financial development has resulted in a 39% reduction in outstanding warrants, providing the company with additional capital to advance its planned activities, including the CK Gold Project in Southeast Wyoming. CFO Eric Alexander noted that the influx of cash will offer greater flexibility in completing a Feasibility Study and developing a project execution plan. Additionally, U.S. Gold Corp. may allocate funds to further advance exploration projects in Nevada and Idaho.

In another development, U.S. Gold Corp. held a shareholder meeting where all proposed items, including the election of directors and executive compensation, were approved. The re-election of five board members and the ratification of Marcum LLP as the independent auditor received significant support. The approval of executive compensation reflects shareholder confidence in the company’s management and strategic direction. Furthermore, a non-binding advisory vote determined that future votes on executive compensation will occur every three years. These updates provide insight into the company’s ongoing governance and financial strategies.

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