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

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

i-80 Gold Stock Up 1.8%

IAUX traded up $0.01 during trading on Thursday, reaching $0.72. 13,210,733 shares of the stock traded hands, compared to its average volume of 6,527,273. The stock's 50-day simple moving average is $0.59 and its two-hundred day simple moving average is $0.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22. i-80 Gold has a fifty-two week low of $0.34 and a fifty-two week high of $1.26. The stock has a market cap of $566.11 million, a price-to-earnings ratio of -2.00 and a beta of 1.10.

Analyst Ratings Changes

A number of research firms have recently issued reports on IAUX. National Bankshares restated an "outperform" rating on shares of i-80 Gold in a report on Wednesday, April 2nd. Scotiabank reduced their price objective on i-80 Gold from $2.25 to $1.50 and set a "sector outperform" rating for the company in a research note on Monday, June 2nd. Royal Bank Of Canada decreased their price objective 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. Finally, Cormark upgraded i-80 Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, i-80 Gold currently has a consensus rating of "Moderate Buy" and an average price target of $2.17.

Institutional Investors Weigh In On i-80 Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in i-80 Gold by 6.5% in the fourth quarter. Bank of Montreal Can now owns 310,940 shares of the company's stock worth $149,000 after buying an additional 19,018 shares during the last quarter. Barclays PLC grew its position in i-80 Gold by 3.3% in the fourth quarter. Barclays PLC now owns 623,979 shares of the company's stock worth $302,000 after acquiring an additional 19,910 shares in the last quarter. Rhumbline Advisers increased its stake in shares of i-80 Gold by 5.7% during the 1st quarter. Rhumbline Advisers now owns 393,756 shares of the company's stock worth $229,000 after purchasing an additional 21,182 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of 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 in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of i-80 Gold by 19.7% in the 4th quarter. Mackenzie Financial Corp now owns 178,714 shares of the company's stock valued at $86,000 after purchasing an additional 29,386 shares during the last quarter. 61.31% of the stock is owned by hedge funds and other institutional investors.

i-80 Gold Company Profile

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.