General American Investors Co. Inc. Lowers Holdings in i-80 Gold Corp. $IAUX

Key Points

• General American Investors Co. Inc. cut its i-80 Gold stake by 56.8% in the first quarter, selling 1,974,389 shares and leaving it with 1.5 million shares valued at about $2.28 million.
• Institutional ownership remains significant, with 61.31% of i-80 Gold shares held by institutional investors. Several funds initiated or increased positions, including a sharp 2,016.6% boost by SG Americas Securities LLC.
• Insider activity was mixed: Director John Arthur Begeman sold 24,356 shares, while Director Steven W. Yopps bought 50,000 shares. UBS Group also reiterated interest with a $2.60 price target on the stock.

General American Investors Co. Inc. trimmed its position in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) by 56.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,500,000 shares of the company's stock after selling 1,974,389 shares during the quarter. General American Investors Co. Inc. owned about 0.17% of i-80 Gold worth $2,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Castleview Partners LLC bought a new position in shares of i-80 Gold in the fourth quarter worth approximately $1,189,000. Deutsche Bank AG purchased a new position in i-80 Gold in the 4th quarter worth approximately $32,000. State of Wisconsin Investment Board purchased a new position in i-80 Gold in the 4th quarter worth approximately $27,000. Banco BTG Pactual S.A. bought a new position in i-80 Gold in the 2nd quarter valued at approximately $25,000. Finally, SG Americas Securities LLC lifted its position in i-80 Gold by 2,016.6% in the 1st quarter. SG Americas Securities LLC now owns 337,090 shares of the company's stock valued at $512,000 after acquiring an additional 321,164 shares in the last quarter. 61.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director John Arthur Begeman sold 24,356 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $1.59, for a total value of $38,726.04. Following the transaction, the director directly owned 827,354 shares in the company, valued at $1,315,492.86. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven W. Yopps acquired 50,000 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $1.47 per share, with a total value of $73,500.00. Following the acquisition, the director directly owned 50,000 shares of the company's stock, valued at $73,500. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.42% of the company's stock.

Wall Street Analyst Weigh In

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

i-80 Gold Stock Performance

Shares of IAUX traded down $0.04 during mid-day trading on Friday, hitting $1.40. 8,089,584 shares of the company traded hands, compared to its average volume of 13,055,450. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33. The stock has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.61. i-80 Gold Corp. has a 1 year low of $0.55 and a 1 year high of $2.24. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -3.89 and a beta of 1.15.

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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