i-80 Gold (NYSE:IAUX) Stock Falls 5.4% – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Freedom Broker boosted their target price on shares of i-80 Gold from $2.80 to $2.90 and gave the company a “buy” rating in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, i-80 Gold presently has an average rating of “Buy” and a consensus target price of $2.75.

i-80 Gold Trading Down 1.4%

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -3.78 and a beta of 1.23. The company has a quick ratio of 0.22, a current ratio of 0.33 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $1.63 and a 200-day moving average of $1.61.

Insider Buying and Selling

In other news, Director John Begeman sold 19,231 shares of i-80 Gold stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $1.74, for a total transaction of $33,461.94. Following the sale, the director directly owned 827,354 shares in the company, valued at approximately $1,439,595.96. The trade was a 2.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On i-80 Gold

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new position in i-80 Gold in the third quarter valued at approximately $25,000. Integrated Advisors Network LLC acquired a new stake in i-80 Gold during the 3rd quarter valued at $32,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in i-80 Gold by 49.5% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,420 shares of the company’s stock worth $32,000 after acquiring an additional 7,420 shares during the last quarter. Pasadena Private Wealth LLC bought a new stake in shares of i-80 Gold in the second quarter valued at about $36,000. Finally, Empowered Funds LLC bought a new stake in shares of i-80 Gold in the first quarter valued at approximately $43,000. 61.31% of the stock is owned by institutional investors.

About i-80 Gold

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.