i-80 Gold (NYSE:IAUX) Stock Price Up 9.7% – Should You Buy?

i-80 Gold Corp. (NYSE:IAUX)’s stock price shot up 9.7% during trading on Wednesday . The stock traded as high as $1.71 and last traded at $1.7340. Approximately 1,496,727 shares changed hands during trading, a decline of 88% from the average session volume of 12,517,165 shares. The stock had previously closed at $1.58.

Wall Street Analysts Forecast Growth

Separately, UBS Group set a $2.60 price target on shares of i-80 Gold in a research report on Tuesday, June 2nd.

i-80 Gold Stock Up 1.7%

The business has a 50 day moving average of $1.46 and a 200-day moving average of $1.58. The stock has a market cap of $1.52 billion, a PE ratio of -4.89 and a beta of 1.17. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19.

Insider Buying and Selling at i-80 Gold

In other news, Director John Arthur Begeman sold 24,356 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $1.59, for a total value of $38,726.04. Following the completion of the sale, the director directly owned 827,354 shares of the company’s stock, valued at approximately $1,315,492.86. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.42% of the company’s stock.

Institutional Trading of i-80 Gold

Several institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in i-80 Gold by 1,345.4% during the 1st quarter. AQR Capital Management LLC now owns 195,706 shares of the company’s stock worth $114,000 after purchasing an additional 182,166 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in i-80 Gold by 40.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,436,918 shares of the company’s stock valued at $2,000,000 after purchasing an additional 987,083 shares during the period. Quantbot Technologies LP purchased a new stake in shares of i-80 Gold in the second quarter valued at about $71,000. EverSource Wealth Advisors LLC raised its holdings in shares of i-80 Gold by 19,522.9% in the second quarter. EverSource Wealth Advisors LLC now owns 64,167 shares of the company’s stock valued at $38,000 after buying an additional 63,840 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of i-80 Gold during the second quarter worth about $62,000. Hedge funds and other institutional investors own 61.31% of the company’s stock.

About i-80 Gold

i-80 Gold Corp. is a Canadian-focused gold exploration, development and production company with a strategic emphasis on precious metal assets in the state of Nevada, USA. The company pursues a district-scale approach, seeking to consolidate under-explored gold belts and advance resource-stage projects toward commercial production. Its core objective is to build a balanced portfolio of operating and development assets that generate cash flow while supporting ongoing exploration.

The company’s flagship asset is the 100%-owned Ruby Hill complex in Humboldt County, Nevada, which encompasses multiple gold and silver deposits at various stages of technical study and permitting.