Can anything shut down the Gold rally?
Investing.com - H.C. Wainwright raised its price target on US Gold Corp. (NASDAQ:USAU) to $22.00 from $15.00 on Thursday, while maintaining a Buy rating on the stock. The company, currently trading at $15.12 with a market cap of $217 million, has seen its stock surge over 146% year-to-date. InvestingPro data shows analyst targets ranging from $15 to $24, with a consensus Buy recommendation.
The research firm cited recent developments at US Gold’s CK Gold project as the basis for the increased valuation. On August 27, the company reported a contract with Cheyenne Light, Fuel and Power (CLFP) to begin pre-construction planning for a powerline that will deliver 30MW of electricity to the project.
The pre-construction phase has already commenced with substation design, project scheduling, budgeting, and land rights activities underway, representing concrete steps toward project development.
H.C. Wainwright also highlighted US Gold’s August 21 adoption of Glencore’s (OTC:GLNCY) Jameson Cell flotation equipment, which aims to improve gold and copper recoveries at the CK Gold project. This implementation followed various studies from the company’s Definitive Feasibility Study and Execution Plan.
The research firm views these developments as "quantifiable advancements in the project’s development timeline," which remains US Gold’s primary focus, according to the analyst note.
In other recent news, U.S. Gold Corp. has made strides in advancing its CK Gold Project in Wyoming. The company announced that its subsidiary, Gold King Corp., has signed a contract with Cheyenne Light, Fuel and Power for the power supply necessary for the project. This agreement is a significant step toward the construction of a powerline, which will potentially provide 30 megawatts of power required for the mining operations. In addition, Roth/MKM has adjusted its price target for U.S. Gold Corp. to $19 from $18. The firm maintained a Buy rating on the stock, following the company’s fiscal year-end 2025 financial results. Roth/MKM described these results as "uneventful," yet they still saw fit to raise the price target. These developments reflect ongoing progress and analyst confidence in U.S. Gold Corp.’s future.
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