i-80 Gold (NYSE:IAUX) Shares Gap Down – Should You Sell?

i-80 Gold Corp. (NYSE:IAUX) gapped down prior to trading on Friday . The stock had previously closed at $1.95, but opened at $1.88. i-80 Gold shares last traded at $1.8540, with a volume of 3,198,938 shares changing hands.

i-80 Gold Trading Down 3.5%

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 stock has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $1.19. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -5.22 and a beta of 1.18.

Insider Activity at i-80 Gold

In other news, Director John William Seaman bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was purchased at an average price of $1.30 per share, with a total value of $26,000.00. Following the completion of the acquisition, the director directly owned 346,942 shares of the company’s stock, valued at $451,024.60. This trade represents a 6.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.08% of the stock is owned by company insiders.

Institutional Trading of i-80 Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in shares of i-80 Gold in the fourth quarter worth $536,000. Quadrature Capital Ltd purchased a new stake in i-80 Gold in the fourth quarter valued at $311,000. Millennium Management LLC boosted its holdings in i-80 Gold by 268.2% in the fourth quarter. Millennium Management LLC now owns 2,309,873 shares of the company’s stock valued at $3,389,000 after purchasing an additional 1,682,580 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in i-80 Gold during the 4th quarter worth about $545,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of i-80 Gold during the 4th quarter valued at about $213,000. 61.31% of the stock is currently owned by institutional investors and hedge funds.

i-80 Gold Company Profile

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.