U.S. Gold Corp to join Russell 3000 and Russell 2000 indexes

CHEYENNE, Wyo. - U.S. Gold Corp (NASDAQ:USAU), a gold and copper exploration and development company with a market capitalization of $144.46 million, has qualified for inclusion in the Russell 3000 and Russell 2000 indexes, as part of the annual reconstitution by FTSE Russell. The inclusion will take effect after the U.S. market opens on June 30, 2025.

The Russell 3000 Index comprises the 3,000 largest U.S. public companies by market capitalization, while the Russell 2000 is a subset focused on small-cap companies. The reconstitution process, which took place based on market capitalization as of April 30, 2025, also ensures automatic inclusion in corresponding growth and value style indexes. According to InvestingPro data, USAU has demonstrated remarkable momentum with an 88.74% return year-to-date and nearly 100% return over the past year.

Chairman of U.S. Gold, Luke Norman, expressed that the company’s preliminary inclusion in the indexes is a recognition of the progress they have made, particularly with their CK Gold Project in Cheyenne, Wyoming. He emphasized the team’s dedication to the development of the project and the value it brings to shareholders.

The Russell indexes are a common benchmark for investment funds and strategies, with approximately $10.6 trillion in assets benchmarked against them as of June 2024. The indexes are reconstituted annually and are maintained by FTSE Russell, a leading global index provider.

U.S. Gold Corp’s inclusion in the Russell indexes is seen as a milestone for the company, reflecting its market capitalization growth and investment potential. Currently trading near its 52-week high of $12.00, the stock has caught analysts’ attention with price targets ranging from $15.03 to $23.50. The company’s portfolio also includes the Keystone exploration property in Nevada and the Challis Gold Project in Idaho. InvestingPro subscribers can access 13 additional investment tips and comprehensive financial metrics for USAU.

This announcement is based on a press release statement from U.S. Gold Corp and does not constitute an endorsement of the company’s future performance or investment advice. The company maintains a "GOOD" Financial Health Score according to InvestingPro analysis, with notably strong price momentum and solid balance sheet metrics.

In other recent news, U.S. Gold Corp. has raised $7.3 million from the exercise of warrants, reducing the number of outstanding warrants by approximately 39%. This influx of capital provides the company with additional flexibility to advance its planned activities, including the completion of a Feasibility Study and the development of a project execution plan for the CK Gold Project in Southeast Wyoming. Furthermore, shareholders of U.S. Gold Corp. have approved all proposed items at a recent meeting, including the re-election of five board members and executive compensation, indicating strong shareholder confidence. The meeting also ratified Marcum LLP as the independent auditor for the fiscal year ending April 30, 2025.

Additionally, H.C. Wainwright has increased its price target for U.S. Gold Corp. to $15, maintaining a Buy rating due to ongoing advancements at the CK Gold Project. The firm highlighted the company’s strategy to prioritize American-sourced equipment and materials, which is relevant amidst current tariff-related expenditures. The completion of the final Feasibility Study is anticipated to lead to significant project de-risking announcements. H.C. Wainwright also suggests potential project financing or development commencement by late fourth quarter 2025 or early first quarter 2026. These developments reflect the company’s strategic progress and financial planning in its ongoing projects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.