i-80 Gold (NYSE:IAUX) Stock Falls 7.8% – Should You Sell?

i-80 Gold Corp. (NYSE:IAUX)’s share price traded down 7.8% on Wednesday. The company traded as low as $1.4650 and last traded at $1.4850. Approximately 11,784,926 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 11,935,056 shares. The stock had previously closed at $1.61.

i-80 Gold Stock Performance

The firm’s fifty day moving average price is $1.69 and its 200-day moving average price is $1.56. The company has a market cap of $1.29 billion, a P/E ratio of -4.12 and a beta of 1.23. 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 Transactions at i-80 Gold

In other i-80 Gold news, Director John Begeman sold 19,231 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $1.74, for a total value of $33,461.94. Following the completion of the transaction, the director owned 827,354 shares of the company’s stock, valued at $1,439,595.96. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of i-80 Gold by 49.5% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,420 shares of the company’s stock valued at $32,000 after buying an additional 7,420 shares in the last quarter. Pasadena Private Wealth LLC bought a new stake in i-80 Gold in the second quarter valued at about $36,000. Empowered Funds LLC acquired a new position in i-80 Gold in the first quarter worth about $43,000. Two Sigma Securities LLC acquired a new position in i-80 Gold in the second quarter worth about $43,000. Finally, DGS Capital Management LLC bought a new position in i-80 Gold during the fourth quarter worth about $49,000. 61.31% of the stock is currently owned by institutional investors and hedge funds.

About i-80 Gold

i-80 Gold Corp. is a Canadian mining company focused on the exploration, development and production of gold and other precious metals in Nevada. The company’s portfolio includes advanced-stage projects and exploration properties located within established gold-producing trends in the state.

Its principal assets include the Ruby Hill, Granite Creek, McCoy-Cove and Lone Tree projects. These properties contain underground and open-pit mineralization, while the company is also evaluating processing and infrastructure options intended to support future production.