Tidal Investments LLC Has $26.87 Million Position in i-80 Gold Corp. $IAUX

Key Points

• Tidal Investments more than doubled its i-80 Gold stake in the second quarter, increasing holdings by 123.1% to 18.66 million shares worth approximately $26.87 million, or 2.15% of the company.
• Institutional ownership remains significant, with hedge funds and other institutions holding 61.31% of i-80 Gold’s shares. UBS Group separately assigned the stock a $2.60 price target.
• IAUX shares opened at $1.77, above their 50-day and 200-day moving averages of $1.56 and $1.57, respectively, while a company director sold 19,231 shares at an average price of $1.74.

Tidal Investments LLC increased its holdings in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) by 123.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,662,686 shares of the company's stock after purchasing an additional 10,298,143 shares during the period. Tidal Investments LLC owned approximately 2.15% of i-80 Gold worth $26,874,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IAUX. AQR Capital Management LLC raised its holdings in shares of i-80 Gold by 1,345.4% during the first quarter. AQR Capital Management LLC now owns 195,706 shares of the company's stock worth $114,000 after acquiring an additional 182,166 shares during the period. Goldman Sachs Group Inc. increased its holdings in i-80 Gold by 40.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,436,918 shares of the company's stock worth $2,000,000 after purchasing an additional 987,083 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of i-80 Gold in the 2nd quarter valued at about $71,000. EverSource Wealth Advisors LLC raised its stake in shares of i-80 Gold by 19,522.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 64,167 shares of the company's stock valued at $38,000 after purchasing an additional 63,840 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of i-80 Gold in the second quarter valued at about $62,000. 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 price objective on i-80 Gold in a report on Tuesday, June 2nd.

Insider Activity

In related news, Director John Begeman sold 19,231 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $1.74, for a total transaction of $33,461.94. Following the sale, the director owned 827,354 shares in the company, valued at approximately $1,439,595.96. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company's stock.

i-80 Gold Trading Up 0.6%

Shares of NYSE:IAUX opened at $1.77 on Thursday. The company's 50-day moving average price is $1.56 and its two-hundred day moving average price is $1.57. i-80 Gold Corp. has a one year low of $0.86 and a one year high of $2.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22. The stock has a market capitalization of $1.53 billion, a PE ratio of -4.92 and a beta of 1.22.

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.

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