Connor Clark & Lunn Investment Management Ltd. Takes Position in i-80 Gold Corp. $IAUX

Key Points

• Connor Clark & Lunn Investment Management acquired 1,059,300 shares of i-80 Gold in the second quarter, valued at approximately $1.54 million and representing a 0.12% stake.
• Several other institutional investors increased their positions, with hedge funds and institutions collectively owning 61.31% of i-80 Gold’s shares.
• i-80 Gold shares were down 3.6% and opened at $1.85, while UBS Group set a $2.60 price target; the stock’s 52-week range is $0.77 to $2.24.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,059,300 shares of the company's stock, valued at approximately $1,537,000. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of i-80 Gold at the end of the most recent quarter.

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

i-80 Gold Stock Down 3.6%

Shares of IAUX stock opened at $1.85 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of -5.14 and a beta of 1.17. i-80 Gold Corp. has a 52 week low of $0.77 and a 52 week high of $2.24. 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 company's fifty day simple moving average is $1.50 and its two-hundred day simple moving average is $1.59.

Analyst Upgrades and Downgrades

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

i-80 Gold 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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