We are initiating coverage of U.S. Gold Corp. (NASDAQ: USAU) a gold, copper, silver, and zinc exploration and development company.
“Cortez Trend is one of the most prolific gold producing areas in America”
Current price $3.37 Shares outstanding (est.) 2.44M Float (est.) 2.07M (Post R/S completed March 19th) Insider ownership 14.89%
The company's properties include the Copper King project, an advanced stage gold and copper exploration and development project located in southeast Wyoming; Keystone project, an exploration property on the Cortez Trend in Nevada; the Gold Bar North project, a gold exploration property located in Eureka County, Nevada and the recently acquired Maggie Creek project also located on the Cortez Trend.
USAU has four mining projects. Briefly, the Cortez Trend is one of the most prolific gold producing areas in America. Both Barrick Gold and Newmont Corporation mine gold there. The Wyoming Copper King project has reserves in metals estimated near $200M. Detailed information on the USAU properties is available at the company website: https://www.usgoldcorp.gold/properties
Gold and other precious metals may be the asset class that dominates the next decade. Make no mistake, the current coronavirus pandemic will have a long-term economic impact.
Precious metals have taken a hit recently, just like other asset classes. We believe that, as other asset classes remain soft, precious metals will rebound quickly as investors seek a safe haven. When we discuss precious metals, we are primarily talking about gold. Gold is the most widespread investment area in precious metals.
Some analysts are predicting future gold prices near $5,000 per ounce.
If gold should spike in price due to high demand, gold miners may do whatever it takes to get more of it out of the ground. They could ramp up production at their claims and buy up all the junior miners with claims showing potential.
The worlds two biggest gold miners, Barrick Gold and Newmont Corporation have a combined market cap over $60 billion, even in the current market. Both companies need more mining opportunities.
Why start your research on USAU stock now?
Let’s start with the Warren Buffet axiom, “when everyone is selling, you should be buying”
USAU just announced a 1-for-10 reverse split of its common stock, effective as of 5:00 pm Eastern Time, March 19, 2020. Beginning on March 20, 2020, the company's common stock traded on a split adjusted basis.
In November 2019, HC Wainwright issued a “buy” rating with a split adjusted target price of $27.00 per share.
USAU shares are historically affordable right now and an investment in a gold mining stock can be easier than buying bullion with its inherent risks.
The company has solid data to back up the potential of its projects and USAU has no debt.
The USAU team is comprised of heavy hitters including The Honorable Ryan K. Zinke, 52nd Secretary of Interior.
There are many indicators in the chart below that could indicate oversold shares. The current RSI (14) is only 26.59. The shares are trading below their 50 DMA and 200 DMA of $7.15 and $8.79 respectively. Trading volumes are increasing, and these shares may be trending.
More to come soon...
The Team
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