The Manufacturers Life Insurance Company Takes $1.13 Million Position in i-80 Gold Corp. $IAUX

Key Points

• The Manufacturers Life Insurance Company acquired 747,168 shares of i-80 Gold, valued at approximately $1.13 million, giving it a 0.09% stake. Institutional investors collectively own 61.31% of the company.
• Several other institutions, including Renaissance Technologies and McAlvany Wealth Management, also initiated positions during the first quarter, while Swiss National Bank increased its holdings by 1.9%.
• UBS Group set a $2.60 price target for IAUX. The stock recently opened at $1.66, compared with a 12-month range of $0.57 to $2.24.

The Manufacturers Life Insurance Company bought a new position in i-80 Gold Corp. (NYSE:IAUX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 747,168 shares of the company's stock, valued at approximately $1,132,000. The Manufacturers Life Insurance Company owned approximately 0.09% of i-80 Gold at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IAUX. Renaissance Technologies LLC bought a new position in shares of i-80 Gold in the first quarter worth approximately $3,254,000. McAlvany Wealth Management LLC purchased a new position in shares of i-80 Gold during the 1st quarter valued at $3,536,000. State of Wyoming purchased a new position in shares of i-80 Gold during the 1st quarter valued at $59,000. SummitTX Capital L.P. bought a new position in i-80 Gold in the 1st quarter worth $172,000. Finally, Swiss National Bank boosted its holdings in i-80 Gold by 1.9% in 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 period. Institutional investors own 61.31% of the company's stock.

Insider Activity

In related news, Director Steven W. Yopps purchased 50,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at approximately $73,500. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Arthur Begeman sold 24,356 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $1.59, for a total value of $38,726.04. Following the sale, the director directly owned 827,354 shares in the company, valued at $1,315,492.86. The trade was a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.42% of the company's stock.

Analysts Set New Price Targets

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

i-80 Gold Stock Performance

i-80 Gold stock opened at $1.66 on Wednesday. The company's 50-day moving average price is $1.43 and its 200-day moving average price is $1.59. i-80 Gold Corp. has a twelve month low of $0.57 and a twelve month high of $2.24. 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 company has a market cap of $1.44 billion, a PE ratio of -4.61 and a beta of 1.17.

i-80 Gold 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source