i-80 Gold Corp. $IAUX is Pale Fire Capital SE's 10th Largest Position

Key Points

• Pale Fire Capital SE has increased its stake in i-80 Gold Corp. by 66.8%, now owning about 16.98 million shares, which represent approximately 3.83% of the company's stock.
• i-80 Gold Corp. has experienced recent changes in analyst ratings, with target prices being reduced by both Scotiabank and Royal Bank of Canada to $1.50 while maintaining "outperform" ratings.
• The company's market capitalization stands at $599.23 million, with a current stock price of $0.76 and a 52-week trading range between $0.3391 and $1.26.

Pale Fire Capital SE grew its stake in i-80 Gold Corp. (NYSE:IAUX - Free Report) by 66.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,981,095 shares of the company's stock after purchasing an additional 6,801,325 shares during the period. i-80 Gold makes up approximately 1.2% of Pale Fire Capital SE's portfolio, making the stock its 10th biggest holding. Pale Fire Capital SE owned about 3.83% of i-80 Gold worth $9,880,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of IAUX. Bank of America Corp DE boosted its holdings in i-80 Gold by 151.0% in the 4th quarter. Bank of America Corp DE now owns 696,440 shares of the company's stock valued at $338,000 after purchasing an additional 419,025 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of i-80 Gold by 80.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 590,267 shares of the company's stock valued at $343,000 after buying an additional 263,851 shares in the last quarter. Millennium Management LLC acquired a new position in i-80 Gold during the fourth quarter worth $235,000. ProShare Advisors LLC raised its position in i-80 Gold by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 89,168 shares of the company's stock worth $43,000 after acquiring an additional 29,339 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in i-80 Gold in the fourth quarter valued at $68,000. 61.31% of the stock is owned by institutional investors and hedge funds.

i-80 Gold Trading Up 0.9%

Shares of i-80 Gold stock traded up $0.01 during mid-day trading on Thursday, hitting $0.77. 2,798,173 shares of the stock were exchanged, compared to its average volume of 5,893,420. The stock has a market capitalization of $605.69 million, a price-to-earnings ratio of -2.13 and a beta of 1.17. i-80 Gold Corp. has a twelve month low of $0.34 and a twelve month high of $1.26. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $0.64 and a 200 day simple moving average of $0.63.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IAUX shares. Royal Bank Of Canada reduced their price target on shares of i-80 Gold from $2.00 to $1.50 and set an "outperform" rating for the company in a research report on Monday, June 2nd. Scotiabank reduced their price objective on i-80 Gold from $2.25 to $1.50 and set a "sector outperform" rating for the company in a report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1.50.

i-80 Gold Company Profile

i-80 Gold Corp. is a mining company, engages in the exploration, development and production of gold and silver mineral deposits principally in the United States. i-80 Gold Corp. is based in Reno, Nevada.