Cibc World Market Inc. Purchases New Position in i-80 Gold Corp. $IAUX

Key Points

• Cibc World Market Inc. purchased 913,485 shares of i-80 Gold during the second quarter, valued at approximately $1.33 million and representing about 0.11% of the company.
• Institutional ownership stands at 61.31%, with several other funds—including Rathbones Group, Bay Colony Advisors, Bank of Montreal and LPL Financial—also increasing their positions.
• i-80 Gold shares were trading at $1.92, up 2.1%, compared with a 52-week range of $0.74 to $2.24. UBS Group assigned the stock a $2.60 price target.

Cibc World Market Inc. purchased a new stake in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 913,485 shares of the company's stock, valued at approximately $1,326,000. Cibc World Market Inc. owned about 0.11% of i-80 Gold as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rathbones Group PLC raised its stake in shares of i-80 Gold by 5.1% in the fourth quarter. Rathbones Group PLC now owns 123,740 shares of the company's stock worth $181,000 after purchasing an additional 6,000 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of 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 valued at $32,000 after buying an additional 7,420 shares during the last quarter. Bank of Montreal Can grew its holdings in i-80 Gold by 1.1% during the fourth quarter. Bank of Montreal Can now owns 841,225 shares of the company's stock worth $1,238,000 after buying an additional 9,175 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in i-80 Gold by 4.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 246,655 shares of the company's stock worth $360,000 after buying an additional 10,518 shares in the last quarter. Finally, LPL Financial LLC raised its position in i-80 Gold by 3.1% in the 4th quarter. LPL Financial LLC now owns 429,440 shares of the company's stock valued at $627,000 after buying an additional 13,000 shares during the last quarter. 61.31% of the stock is owned by institutional investors.

i-80 Gold Trading Up 2.1%

NYSE IAUX opened at $1.92 on Friday. The business's fifty day moving average is $1.50 and its 200-day moving average is $1.59. 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 market capitalization of $1.66 billion, a price-to-earnings ratio of -5.33 and a beta of 1.17. i-80 Gold Corp. has a one year low of $0.74 and a one year high of $2.24.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $2.60 price objective on i-80 Gold in a research note on Tuesday, June 2nd.

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.

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