Streetbeat News

AUST

Austin Gold Corp.

https://www.austin.gold

Industry

Gold

Austin Gold Corp., a gold exploration company, focuses on the exploration and evaluation of mineral property interests in Nevada. The company's principal property the Kelly Creek Project with a mix of 6 patented mining claims and 1,600 unpatented mining claims covering an area of 136.8 square kilometers located in the Kelly Creek Basin, in southeastern Humboldt County, Nevada. Its other projects include the Fourmile Basin Project that comprises 312 unpatented lode mining claims covering approximately 6410 acres located in Nye County; the Lone Mountain Project consisting of 454 unpatented lode mining claims and 6 patented mining claims covering approximately 34.2 square kilometers located near Lone Mountain in Elko County; and the Miller Project with a total of 281 unpatented lode mining claims covering approximately 23.5 square kilometers in Elko County in Nevada. The company was incorporated in 2020 and is headquartered in Vancouver, Canada.

Open

1.83

Mkt cap

25M

Volume

117K

High

1.95

P/E Ratio

-6.03

52-wk high

3.19

Low

1.77

Div yield

N/A

52-wk low

0.62

Gold prices surged to over $2,200 per ounce, influenced by the Federal Reserve's indication of interest rate cuts, leading to a 30% rally in several gold mining stocks. Bank of America analysts favor gold as a trade for 2024, citing its hedge status, central bank accumulations, and potential ETF investor increases. Despite gold's rise, some mining stocks like the VanEck Gold Miners ETF (GDX) lag behind. Bank of America identifies undervalued stocks such as Centerra Gold Inc. (CGAU), B2Gold Corp. (BTG), Barrick Gold Corp. (GOLD), and Newmont Corp. (NEM), recommending stocks with high upside beta ratios.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 3:56 pm

Gold and silver prices surged to new highs following Fed Chair Jerome Powell's hints at potential rate cuts in 2024, boosting mining stocks and ETFs. The SPDR Gold Trust (GLD) and Invesco DB USD Index Bullish Fund ETF (UUP) experienced significant movements, alongside a rally in mining stocks and ETFs like the VanEck Gold Miners ETF (GDX) and the VanEck Junior Gold Miners ETF (GDXJ).

Portfolio Pulse from Piero Cingari

March 06, 2024 | 5:43 pm

MP Materials Corp. and Cleveland-Cliffs Inc. have increased their offerings, with MP Materials announcing a $650 million convertible notes offering and Cleveland-Cliffs upsizing to $825 million in senior unsecured notes. Austin Gold completed its initial drilling program, showing promising gold grades. Compass Minerals Intl. was downgraded by Loop Capital, and Golden Minerals Company announced the passing of a board member.

Portfolio Pulse from Austin DeNoce

March 05, 2024 | 10:07 pm

Austin Gold (AMEX:AUST) reported Q4 earnings with an EPS of $-0.13, missing estimates by -225.0% compared to the expected $-0.04. Revenue remained unchanged from the same period last year. Previously, the company had beaten EPS estimates which was followed by a 3.0% drop in share price the next day.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 1:55 pm

During the 'Mining Unearthed: Navigating the Ore of Innovation' virtual event, Dennis Higgs, president of Austin Gold Corp (NYSE:AUST), discussed the company's exploration strategies in Nevada and Oregon. Higgs highlighted the potential for significant gold discoveries in these regions, known for their mineral wealth. Austin Gold Corp. focuses on areas like Nevada's 'elephant country' and the Stockade Mountain project in Oregon, aiming to leverage modern exploration techniques and an experienced team to uncover new gold reserves. Higgs emphasized the importance of exploration in generating shareholder value and contrasted gold's reliability as an asset with the speculative nature of cryptocurrencies.

Portfolio Pulse from Abbey Higginbotham

February 15, 2024 | 11:13 pm

During Benzinga's 'Metals & Mining' Conference, Austin Gold President Dennis Higgs provided a forecast for gold prices, predicting a range from $2,000 to $35,000 per ounce over the next decade.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 4:21 pm

Benzinga is hosting a 'Metals & Mining' Virtual Conference, which has started and can be viewed online.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 4:03 pm

Roth MKM analyst Joe Reagor has maintained a 'Buy' rating on Austin Gold (AMEX:AUST), but has lowered the price target from $3.75 to $3.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 4:08 pm

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