i-80 Gold (NYSE:IAUX) Stock Price Down 2.8% – Here’s Why

i-80 Gold Corp. (NYSE:IAUX)’s stock price dropped 2.8% during mid-day trading on Friday . The stock traded as low as $1.39 and last traded at $1.40. 8,089,584 shares were traded during mid-day trading, a decline of 38% from the average session volume of 13,055,450 shares. The stock had previously closed at $1.44.

Analyst Ratings Changes

Separately, UBS Group set a $2.60 target price on shares of i-80 Gold in a research report on Tuesday, June 2nd.

i-80 Gold Stock Performance

The firm has a market capitalization of $1.21 billion, a PE ratio of -3.89 and a beta of 1.15. 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 stock has a 50-day moving average price of $1.50 and a 200-day moving average price of $1.61.

Insider Buying and Selling

In other i-80 Gold news, Director John Arthur Begeman sold 24,356 shares of i-80 Gold stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $1.59, for a total transaction of $38,726.04. Following the sale, the director directly owned 827,354 shares in the company, valued at $1,315,492.86. The trade was a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Yopps bought 50,000 shares of i-80 Gold stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $1.47 per share, with a total value of $73,500.00. Following the completion of the purchase, the director owned 50,000 shares in the company, valued at approximately $73,500. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 1.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cypress Wealth Services LLC acquired a new stake in shares of i-80 Gold in the 4th quarter valued at about $25,000. State of Wisconsin Investment Board bought a new stake in i-80 Gold in the fourth quarter valued at about $27,000. Deutsche Bank AG acquired a new stake in i-80 Gold during the fourth quarter valued at approximately $32,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in i-80 Gold by 49.5% during the 2nd 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 buying an additional 7,420 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of i-80 Gold by 143.6% in the 4th quarter. Cetera Investment Advisers now owns 26,800 shares of the company’s stock worth $39,000 after acquiring an additional 15,800 shares in the last quarter. 61.31% of the stock is owned by institutional investors and hedge funds.

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.