Dahlman Rose Reiterates Buy Rating on US Gold (UXG)

Dahlman Rose is out with a research report this afternoon, where it reiterates its Buy rating on US Gold UXG; it has a $11.47 price target on the stock. The DR analysts believe that the three gold discoveries UXG has made near El Gallo demonstrate the upside potential of the company's large land holdings, and the potential to add gold to a dominantly silver story. They further noted that each of the three gold veins appears to have the potential to extend at depth and laterally. In addition, several other gold and silver veins have been discovered through prospecting, and geological mapping and drilling is ongoing.