i-80 Gold Corp. (NYSE:IAUX) Short Interest Down 38.3% in May

i-80 Gold Corp. (NYSE:IAUX - Get Free Report) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 48,070,000 shares, a drop of 38.3% from the May 15th total of 77,850,000 shares. Based on an average daily trading volume, of 6,750,000 shares, the short-interest ratio is presently 7.1 days. Approximately 7.7% of the company's shares are short sold.

Institutional Trading of i-80 Gold

Several hedge funds and other institutional investors have recently bought and sold shares of IAUX. Sprott Inc. lifted its stake in shares of i-80 Gold by 15.0% during the 1st quarter. Sprott Inc. now owns 19,700,922 shares of the company's stock worth $11,633,000 after purchasing an additional 2,575,661 shares during the last quarter. Pale Fire Capital SE raised its stake in shares of i-80 Gold by 66.8% during the 1st quarter. Pale Fire Capital SE now owns 16,981,095 shares of the company's stock worth $9,880,000 after acquiring an additional 6,801,325 shares in the last quarter. Trek Financial LLC lifted its position in i-80 Gold by 3.9% during the first quarter. Trek Financial LLC now owns 6,798,033 shares of the company's stock valued at $3,955,000 after acquiring an additional 256,616 shares during the last quarter. Renaissance Technologies LLC boosted its stake in i-80 Gold by 429.0% in the fourth quarter. Renaissance Technologies LLC now owns 5,910,533 shares of the company's stock valued at $2,867,000 after acquiring an additional 4,793,333 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in i-80 Gold by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,886,847 shares of the company's stock worth $1,885,000 after purchasing an additional 113,650 shares during the last quarter. Institutional investors own 61.31% of the company's stock.

i-80 Gold Stock Up 4.6%

Shares of NYSE IAUX traded up $0.03 during midday trading on Monday, reaching $0.70. 8,949,645 shares of the company's stock traded hands, compared to its average volume of 6,433,770. The company has a market cap of $549.32 million, a price-to-earnings ratio of -1.94 and a beta of 1.10. The stock's 50 day simple moving average is $0.58 and its 200-day simple moving average is $0.60. The company has a quick ratio of 0.22, a current ratio of 0.33 and a debt-to-equity ratio of 0.19. i-80 Gold has a one year low of $0.34 and a one year high of $1.26.

Analysts Set New Price Targets

IAUX has been the subject of several research reports. Cormark raised shares of i-80 Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th. Royal Bank of Canada lowered their price target on i-80 Gold from $2.00 to $1.50 and set an "outperform" rating for the company in a report on Monday, June 2nd. National Bankshares reissued an "outperform" rating on shares of i-80 Gold in a research note on Wednesday, April 2nd. Finally, 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. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2.17.

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.

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