Renaissance Technologies LLC Invests $3.25 Million in i-80 Gold Corp. $IAUX

Key Points

• Renaissance Technologies acquired 2.14 million i-80 Gold shares worth approximately $3.25 million, representing about 0.25% of the company. Institutional investors collectively own 61.31% of the stock.
• i-80 Gold shares opened at $1.62 after rising 6.6%, with a 12-month trading range of $0.57 to $2.24 and a market capitalization of approximately $1.40 billion.
• Director insider activity was mixed: Steven W. Yopps bought 50,000 shares, while John Arthur Begeman sold 24,356 shares. UBS Group separately set a $2.60 price target for the company.

Renaissance Technologies LLC acquired a new stake in i-80 Gold Corp. (NYSE:IAUX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,140,581 shares of the company's stock, valued at approximately $3,254,000. Renaissance Technologies LLC owned about 0.25% of i-80 Gold as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Pale Fire Capital SE boosted its holdings in i-80 Gold by 0.8% during the first quarter. Pale Fire Capital SE now owns 20,843,056 shares of the company's stock worth $31,681,000 after purchasing an additional 174,741 shares during the last quarter. State of Wyoming acquired a new stake in i-80 Gold in the 1st quarter valued at $59,000. Baader Bank Aktiengesellschaft bought a new stake in i-80 Gold during the 1st quarter worth about $84,000. Dimensional Fund Advisors LP lifted its position in i-80 Gold by 232.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 152,322 shares of the company's stock worth $232,000 after buying an additional 106,511 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of i-80 Gold by 1.9% during the 1st quarter. Swiss National Bank now owns 1,434,900 shares of the company's stock worth $2,173,000 after buying an additional 27,000 shares during the last quarter. Institutional investors own 61.31% of the company's stock.

Insiders Place Their Bets

In other news, Director Steven W. Yopps purchased 50,000 shares of the company's stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $1.47 per share, with a total value of $73,500.00. Following the completion of the transaction, the director owned 50,000 shares of the company's stock, valued at $73,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Arthur Begeman sold 24,356 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $1.59, for a total transaction of $38,726.04. Following the completion of the sale, the director owned 827,354 shares of the company's stock, valued at approximately $1,315,492.86. This represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. 1.42% of the stock is currently owned by insiders.

i-80 Gold Trading Up 6.6%

Shares of i-80 Gold stock opened at $1.62 on Friday. i-80 Gold Corp. has a 12-month low of $0.57 and a 12-month high of $2.24. The stock has a market cap of $1.40 billion, a P/E ratio of -4.50 and a beta of 1.17. 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 business's 50 day moving average is $1.43 and its 200-day moving average is $1.59.

Analyst Upgrades and Downgrades

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

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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