U.S. Gold price target lowered to $18 from $25 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on U.S. Gold to $18 from $25 and keeps a Buy rating on the shares after updating the firm’s model to reflect recent inflationary pressures relative to its capital expenditures estimate, modestly revising its estimated timeline to production, and updating the company’s share count following the financing completed during the first half. The firm notes that U.S. Gold received “a major permit” at its CK Gold Project in Wyoming, which serves as “a significant de-risking event from a permitting standpoint.”