Groupe la Francaise Grows Position in i-80 Gold Corp. $IAUX

Key Points

• Groupe la Francaise increased its i-80 Gold position by 66.7% in the first quarter, adding 2.2 million shares to own 5.5 million shares, or 0.64% of the company valued at approximately $8.3 million.
• Institutional investors collectively own 61.31% of i-80 Gold, while several funds initiated or expanded positions during the fourth quarter and first quarter.
• i-80 Gold shares opened at $1.29, down 3.7%, below their 50-day and 200-day moving averages. UBS Group set a $2.60 price target, while recent insider activity included a director purchase of 50,000 shares and another director’s sale of 24,356 shares.

Groupe la Francaise grew its holdings in i-80 Gold Corp. (NYSE:IAUX - Free Report) by 66.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,500,000 shares of the company's stock after buying an additional 2,200,000 shares during the period. Groupe la Francaise owned 0.64% of i-80 Gold worth $8,315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IAUX. State of Wisconsin Investment Board purchased a new stake in i-80 Gold during the 4th quarter valued at about $27,000. Deutsche Bank AG acquired a new stake in i-80 Gold in the 4th quarter valued at about $32,000. Cetera Investment Advisers lifted its stake in 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 purchasing an additional 15,800 shares in the last quarter. Burney Co. acquired a new position in shares of i-80 Gold during the 4th quarter worth approximately $41,000. Finally, Empowered Funds LLC acquired a new position in shares of i-80 Gold during the 1st quarter worth approximately $43,000. 61.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

i-80 Gold Stock Down 3.7%

NYSE IAUX opened at $1.29 on Friday. The business's fifty day simple moving average is $1.44 and its 200-day simple moving average is $1.59. 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 firm has a market cap of $1.12 billion, a PE ratio of -3.58 and a beta of 1.15. i-80 Gold Corp. has a 52 week low of $0.55 and a 52 week high of $2.24.

Insider Transactions at i-80 Gold

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.