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

i-80 Gold Corp. (NYSE:IAUX) gapped down before the market opened on Wednesday . The stock had previously closed at $1.62, but opened at $1.48. i-80 Gold shares last traded at $1.4450, with a volume of 13,662,753 shares traded.

i-80 Gold Trading Down 13.3%

The firm’s 50-day simple moving average is $1.79 and its 200 day simple moving average is $1.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.90 and a beta of 1.09.

Hedge Funds Weigh In On i-80 Gold

Institutional investors have recently modified their holdings of the business. Maia Wealth LLC acquired a new stake in i-80 Gold in the second quarter valued at about $25,000. Cypress Wealth Services LLC bought a new position in i-80 Gold in the fourth quarter valued at about $25,000. Banco BTG Pactual S.A. acquired a new position in i-80 Gold during the second quarter worth about $25,000. State of Wisconsin Investment Board bought a new position in shares of i-80 Gold in the fourth quarter worth about $27,000. Finally, Heck Capital Advisors LLC bought a new position in shares of i-80 Gold in the third quarter worth about $28,000. Institutional investors and hedge funds own 61.31% of the company’s stock.

About i-80 Gold

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.