That's a roughly $70 swing to the north for the price of Au during just a few hours yesterday.
Many investors find themselves heading towards precious metals, especially gold, in times of economic uncertainty. And, as we've seen in recent weeks, there is not much certainty out there right now.
For those reasons and seeing that several gold stocks had serious green sessions Monday, I want you to turn to an under-the-radar gold stock with amazing upside potential.
Your new stock profile for March 24th is:
U.S. Gold Corp. (Ticker: USAU)
U.S. Gold Corp. is a U.S.-focused gold exploration and development company advancing high potential projects in Nevada and Wyoming. USAU is listed on the NASDAQ exchange.
There are several potential catalysts for USAU, but I want you to hone in on two specific ones this morning.
Your #1 Potential Catalyst For USAU - $27 Analyst Price Target
Back in November of 2019, HC Wainwright provided USAU with a $27 price target.
See here for yourself.
With the stock trading at $3.25 (at the time of writing Monday), USAU displays over 730% potential upside to its $27 target.
That is nuts...
What we know historically about what happened to the price of gold after the 2008 financial crisis, this stock could start garnering some serious attention if the price of yellow metal starts climbing quickly.
Just imagine traders seeing a $3+ stock that has a target of $27...
USAU could be seen as an extremely undervalued stock and begin drawing Wall Street's prying eyes.
If this happens, you'll need to be aware of this next potential catalyst too:
Your #2 Potential Catalyst For USAU - Incredibly Low Float
That's correct. Like several recent stock profiles I've delivered your way, USAU has a minuscule float.
According to Yahoo Finance, USAU has a float in the neighborhood of 2.08Mn shares.
When stocks have floats this small, they are capable of trading with extreme volatility. With volatility comes the potential for short-term price spiking.
Here's What You Need To Know About USAU's Operations And Why They Could Lead To A Major Stock Breakout
The company is looking to aggressively advance two world-class projects in 2020. Plans include:
Continue to build their leadership, exploration and development teams
Expand resource and deposit size at Copper King
Early-stage systematic exploration completed at Keystone - primed for discovery in 2020
Initiate exploration program at Maggie Creek
Advance the Copper King project to the Pre-Feasibility Study (PFS) level
(USAU) Highlights Below
U.S. Gold Corp. acquired Orevada Metals, Inc. in an all share transaction in September, 2019
Orevada has an option to earn-in up to a 70% interest in the Maggie Creek exploration project
Maggie Creek is located on the world-famous Carlin Trend in North Central Nevada
The Maggie Creek property is next door to Newmont’s 25-million-ounce Gold Quarry Mine
Maggie Creek is approximately 3 square miles of unpatented mining claims
Recent discoveries at Carlin (Leeville) and Gold Quarry (Chukar) demonstrate the potential for large high-grade deposits at depth – mostly untested at Maggie Creek
The Rainbow deposit occurs immediately south of project boundary
Host rocks and fault structures associated with Gold Quarry trend onto the Maggie Creek Project with historic drilling limited primarily to shallow holes
The Chukar-Alunite Fault structure, important to much of the high-grade mineralization at Gold Quarry, projects into the Maggie Creek Property where it intersects the NW structural corridor
Dikes on the property likely misunderstood and under-represented by previous operators
241 historic drill-holes have mostly been shallow with a mean depth of 300 feet
(USAU) Current Properties
NEVADA District-Scale Exploration
Keystone located on the prolific Cortez Gold Trend, one of the world’s most highly-prospective mineral trends
10 miles south of Barrick’s Cortez Hills Mine Complex
Maggie Creek located on the prolific Carlin Trend, one of the world’s most highly prospective mineral trends
Approximately 10 miles NE of Newmont Mining’s Gold Quarry Mine
Exploration team with extensive Nevada experience
3 years of district exploration and permitting efforts have advanced Keystone to specific drill targets
Target drilling will continue in 2020 with expectations for discovery success
COPPER KING Potential near-term production, WY
Advanced Exploration and Development property
Mining friendly location in the Silver Crown Mining
District of southeast Wyoming
Preliminary Economic Assessment (PEA) prepared by Mine Development Associates shows the following resource:
- 926,000 Measured and Indicated oz Au an 223mm lbs Cu
- 174,000 Inferred oz Au, 62.5mm lbs Cu
- Pre-tax $178.5Mn Net Present Value (NPV) at $1,275/oz Au and $2.80/lb Cu
Copper King remains open in multiple directions for resource expansion
Keystone: Building The Next District On The Cortez Trend
The Cortez Trend is one of the world’s most productive trends - producing 1M oz of Au per year
The trend hosts numerous world class deposits; Barrick’s Pipeline (~21M oz gold), Cortez Hills (~15M oz gold) and Goldrush (~10M oz gold)
Significant discoveries still being made on the Cortez Trend,e.g. Barrick’s Fourmile Project.
The NNW-trending Sr .706 line likely represents a major crustal suture favorable for development of gold-bearing hydrothermal systems and deposits
Keystone exhibits many similarities to Barrick’s deposits tothe north - host rock, stratigraphy, intrusive-centered dome.