Bank of America Corp DE Increases Position in i-80 Gold Corp. $IAUX

Key Points

• Bank of America increased its i-80 Gold stake by 214.8% in the first quarter, ending with 2.09 million shares valued at approximately $3.17 million, or 0.24% of the company.
• Other institutional investors also expanded or initiated positions, with institutional investors and hedge funds collectively owning 61.31% of IAUX.
• UBS set a $2.60 price target for i-80 Gold. The stock opened at $1.85, compared with a 12-month range of $0.77 to $2.24, while the company continues developing its Nevada-focused gold assets.

Bank of America Corp DE increased its position in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) by 214.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,086,685 shares of the company's stock after acquiring an additional 1,423,909 shares during the quarter. Bank of America Corp DE owned approximately 0.24% of i-80 Gold worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in IAUX. Banco BTG Pactual S.A. acquired a new stake in i-80 Gold in the 2nd quarter valued at about $25,000. State of Wisconsin Investment Board acquired a new stake in i-80 Gold in the fourth quarter valued at about $27,000. Deutsche Bank AG purchased a new stake in i-80 Gold during the fourth quarter worth about $32,000. EverSource Wealth Advisors LLC grew its holdings in i-80 Gold by 19,522.9% in the second quarter. EverSource Wealth Advisors LLC now owns 64,167 shares of the company's stock valued at $38,000 after purchasing an additional 63,840 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of i-80 Gold by 143.6% in the fourth quarter. Cetera Investment Advisers now owns 26,800 shares of the company's stock worth $39,000 after acquiring an additional 15,800 shares during the last quarter. 61.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

i-80 Gold Stock Performance

Shares of NYSE IAUX opened at $1.85 on Monday. The company has a market cap of $1.60 billion, a PE ratio of -5.14 and a beta of 1.17. The stock has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $1.59. i-80 Gold Corp. has a 12-month low of $0.77 and a 12-month high of $2.24. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19.

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.

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