Sprott Inc. Buys 2,575,661 Shares of i-80 Gold Corp. $IAUX

Key Points

• Sprott Inc. increased its stake in i-80 Gold Corp. by 15.0%, acquiring an additional 2,575,661 shares and holding a total of 19,700,922 shares, valued at approximately $11,633,000.
• Analysts have reduced their price targets for i-80 Gold, with Scotiabank and Royal Bank of Canada both assigning a new target of $1.50 and rating the stock as "sector outperform."
• Institutional investors currently own 61.31% of i-80 Gold stock, highlighting significant investor interest and confidence in the company.

Sprott Inc. boosted its stake in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) by 15.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,700,922 shares of the company's stock after acquiring an additional 2,575,661 shares during the quarter. Sprott Inc. owned 4.44% of i-80 Gold worth $11,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE raised its position in i-80 Gold by 151.0% during 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 during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in i-80 Gold by 80.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,267 shares of the company's stock valued at $343,000 after purchasing an additional 263,851 shares during the last quarter. Millennium Management LLC bought a new position in i-80 Gold during the 4th quarter valued at approximately $235,000. ProShare Advisors LLC raised its position in i-80 Gold by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 89,168 shares of the company's stock valued at $43,000 after purchasing an additional 29,339 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in i-80 Gold during the 4th quarter valued at approximately $68,000. Institutional investors own 61.31% of the company's stock.

Analysts Set New Price Targets

IAUX has been the subject of several research reports. Scotiabank decreased their target price on i-80 Gold from $2.25 to $1.50 and set a "sector outperform" rating for the company in a research report on Monday, June 2nd. Royal Bank Of Canada decreased their target price on 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. 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 stock. According to data from MarketBeat.com, i-80 Gold currently has a consensus rating of "Moderate Buy" and an average target price of $1.50.

i-80 Gold Stock Performance

Shares of IAUX stock traded down $0.01 on Wednesday, reaching $0.76. The stock had a trading volume of 1,021,462 shares, compared to its average volume of 5,907,723. The stock has a market cap of $596.86 million, a P/E ratio of -2.10 and a beta of 1.17. i-80 Gold Corp. has a 1 year low of $0.34 and a 1 year high of $1.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33. The company has a 50 day simple moving average of $0.64 and a 200 day simple moving average of $0.63.

About i-80 Gold

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.