Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on U.S. GoldMining Inc. (USGO – Research Report), retaining the price target of $26.50.
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Heiko Ihle’s rating is based on several promising developments at U.S. GoldMining Inc.’s Whistler Gold-Copper Project. The company recently reported encouraging assay results from its 2024 drilling program, particularly from drill holes WH24-03 and WH24-04, which have expanded its high-grade mineralization zones. These results suggest the potential for a high-quality, large-scale Mineral Resource Estimate, enhancing the project’s overall value.
Additionally, a new Executive Order aimed at unlocking Alaska’s resource potential is expected to benefit U.S. GoldMining. This order seeks to streamline processes and reduce restrictions on resource development, potentially accelerating the permitting and development of the Whistler Project. Together, these factors contribute to Ihle’s Buy rating, reflecting optimism about the company’s future prospects and growth potential.
Ihle covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Franco-Nevada, and Galiano Gold. According to TipRanks, Ihle has an average return of 3.9% and a 45.33% success rate on recommended stocks.