i-80 Gold (NYSE:IAUX) Shares Down 5.4% – Here’s What Happened

i-80 Gold Corp. (NYSE:IAUX) fell 5.4% during trading on Tuesday. The company traded as low as $1.32 and last traded at $1.3050. 1,699,421 shares traded hands during trading, a decline of 85% from the average session volume of 11,436,237 shares. The stock had previously closed at $1.38.

Analyst Upgrades and Downgrades

Separately, Freedom Broker boosted their target price on i-80 Gold from $2.80 to $2.90 and gave the stock a “buy” rating in a report on Thursday, October 22nd. One analyst has rated the stock with a Buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $2.75.

i-80 Gold Stock Down 3.3%

The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -3.71 and a beta of 1.23. The firm has a 50-day moving average of $1.65 and a two-hundred day moving average of $1.61. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19.

Insiders Place Their Bets

In related news, Director John Begeman sold 19,231 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On i-80 Gold

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC lifted its stake in shares of i-80 Gold by 123.1% during the second quarter. Tidal Investments LLC now owns 18,662,686 shares of the company’s stock valued at $26,874,000 after acquiring an additional 10,298,143 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of i-80 Gold in the 3rd quarter valued at approximately $9,960,000. BlackRock Inc. bought a new stake in shares of i-80 Gold during the second quarter worth $6,868,000. Legal & General Group Plc bought a new stake in shares of i-80 Gold in the second quarter valued at about $4,810,000. Finally, McAlvany Wealth Management LLC acquired a new position in i-80 Gold during the first quarter worth $3,536,000. Institutional investors own 61.31% of the company’s stock.

i-80 Gold Company Profile

i-80 Gold Corp. is a Canada-based mining company focused on the exploration, development and potential production of gold and other precious metals in Nevada. The company’s portfolio includes several advanced-stage projects and processing facilities in one of the world’s major gold-producing regions.

Its principal assets include the Ruby Hill, Granite Creek, McCoy-Cove and Lone Tree properties. These projects contain gold resources as well as opportunities for additional exploration and development.