i-80 Gold (NYSE:IAUX) Reaches New 1-Year High – Here’s Why

Shares of i-80 Gold Corp. (NYSE:IAUX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $1.16 and last traded at $1.1550, with a volume of 2218143 shares trading hands. The stock had previously closed at $1.09.

i-80 Gold Stock Up 7.3%

The business has a fifty day moving average of $0.99 and a 200 day moving average of $0.77. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $936.05 million, a PE ratio of -3.25 and a beta of 1.26.

Insider Activity

In other news, Director John William Seaman acquired 30,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $1.03 per share, with a total value of $30,900.00. Following the transaction, the director owned 326,942 shares in the company, valued at approximately $336,750.26. This trade represents a 10.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in i-80 Gold during the third quarter worth approximately $22,877,000. Equinox Partners Investment Management LLC acquired a new stake in i-80 Gold during the second quarter worth approximately $6,909,000. Monaco Asset Management SAM purchased a new stake in shares of i-80 Gold during the 2nd quarter worth approximately $6,503,000. NewGen Equity Long Short Fund acquired a new stake in i-80 Gold during the 2nd quarter worth $5,206,000. Finally, NewGen Asset Management Ltd acquired a new position in i-80 Gold in the second quarter valued at $5,206,000. 61.31% of the stock is owned by institutional investors and hedge funds.

About i-80 Gold

i-80 Gold Corp. is a mining company, engages in the exploration, development and production of gold and silver mineral deposits principally in the United States. i-80 Gold Corp. is based in Reno, Nevada.