McAlvany Wealth Management LLC Invests $3.54 Million in i-80 Gold Corp. $IAUX

Key Points

• McAlvany Wealth Management disclosed a new first-quarter stake in i-80 Gold Corp., buying 2,507,979 shares worth about $3.54 million. The position makes up 2.2% of its holdings and about 0.29% of i-80 Gold.
• Other institutional investors also adjusted their positions, while institutional ownership stands at 61.31% of the company and insider ownership is 1.42%.
• On the insider and analyst side, director John Arthur Begeman sold shares while director Steven W. Yopps bought 50,000 shares, and UBS Group set a $2.60 price target for the stock.

McAlvany Wealth Management LLC acquired a new stake in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,507,979 shares of the company's stock, valued at approximately $3,536,000. i-80 Gold comprises 2.2% of McAlvany Wealth Management LLC's holdings, making the stock its 17th largest position. McAlvany Wealth Management LLC owned approximately 0.29% of i-80 Gold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Rathbones Group PLC increased its stake in i-80 Gold by 5.1% during the fourth quarter. Rathbones Group PLC now owns 123,740 shares of the company's stock valued at $181,000 after acquiring an additional 6,000 shares during the period. Bank of Montreal Can lifted its position in shares of i-80 Gold by 1.1% in the 4th quarter. Bank of Montreal Can now owns 841,225 shares of the company's stock worth $1,238,000 after acquiring an additional 9,175 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of i-80 Gold by 4.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 246,655 shares of the company's stock worth $360,000 after purchasing an additional 10,518 shares in the last quarter. LPL Financial LLC grew its holdings in shares of i-80 Gold by 3.1% during 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. Finally, Cetera Investment Advisers grew its holdings in shares of i-80 Gold by 143.6% during 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. Institutional investors own 61.31% of the company's stock.

Insiders Place Their Bets

In other i-80 Gold news, Director John Arthur Begeman sold 24,356 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $1.59, for a total transaction of $38,726.04. Following the completion of the transaction, the director directly owned 827,354 shares in the company, valued at $1,315,492.86. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven W. Yopps acquired 50,000 shares of the business's stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $1.47 per share, with a total value of $73,500.00. Following the completion of the acquisition, the director owned 50,000 shares of the company's stock, valued at approximately $73,500. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.42% of the company's stock.

Analyst Ratings Changes

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

i-80 Gold Trading Up 2.4%

Shares of IAUX opened at $1.29 on Friday. i-80 Gold Corp. has a 1 year low of $0.55 and a 1 year high of $2.24. 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 stock has a 50 day simple moving average of $1.48 and a 200-day simple moving average of $1.60. The stock has a market cap of $1.12 billion, a PE ratio of -3.58 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.

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.