Legal & General Group Plc Purchases New Stake in i-80 Gold Corp. $IAUX

Key Points

• Legal & General Group Plc acquired 3.33 million shares of i-80 Gold in the second quarter, valued at approximately $4.81 million and representing about 0.39% of the company.
• Several other institutional investors also initiated positions, bringing institutional and hedge-fund ownership of i-80 Gold to 61.31%.
• IAUX shares opened at $1.79, up 1.7%, with a 52-week range of $0.77 to $2.24. UBS Group set a $2.60 price target, while director John Begeman sold 19,231 shares at an average price of $1.74.

Legal & General Group Plc acquired a new position in i-80 Gold Corp. (NYSE:IAUX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,334,470 shares of the company's stock, valued at approximately $4,810,000. Legal & General Group Plc owned approximately 0.39% of i-80 Gold at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in i-80 Gold during the 2nd quarter valued at about $1,137,000. Cibc World Market Inc. purchased a new stake in shares of i-80 Gold in the second quarter worth approximately $1,326,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of i-80 Gold during the second quarter worth approximately $1,537,000. Quantbot Technologies LP purchased a new position in i-80 Gold during the second quarter valued at approximately $577,000. Finally, Pasadena Private Wealth LLC acquired a new position in i-80 Gold in the 2nd quarter valued at approximately $36,000. 61.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at i-80 Gold

In other i-80 Gold news, Director John Begeman sold 19,231 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $1.74, for a total value of $33,461.94. Following the completion of the sale, the director directly owned 827,354 shares of the company's stock, valued at $1,439,595.96. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by company insiders.

i-80 Gold Stock Up 1.7%

IAUX opened at $1.79 on Friday. The company has a market capitalization of $1.55 billion, a PE ratio of -4.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22. i-80 Gold Corp. has a fifty-two week low of $0.77 and a fifty-two week high of $2.24. The business has a 50-day moving average of $1.53 and a 200-day moving average of $1.58.

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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