i-80 Gold (NYSE:IAUX) Shares Down 11.2% - Should You Sell?

Key Points

• i-80 Gold Corp. shares dropped by 11.2% during trading, closing at $0.97, amidst a trading volume increase of 104%.
• The company's financial metrics show a market cap of $763.75 million, a PE ratio of -2.70, and high institutional ownership at 61.31%.
• Several institutional investors, including Sovereign Financial Group and McAdam LLC, have significantly increased their stakes, indicating a potential vote of confidence in the company.

i-80 Gold Corp. (NYSE:IAUX - )'s share price traded down 11.2% during trading on Tuesday . The company traded as low as $0.97 and last traded at $0.97. 12,385,132 shares traded hands during trading, an increase of 104% from the average session volume of 6,079,229 shares. The stock had previously closed at $1.09.

i-80 Gold Stock Down 11.3%

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 company has a market cap of $763.75 million, a PE ratio of -2.70 and a beta of 1.25. The business's 50 day moving average is $0.88 and its 200-day moving average is $0.69.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Sovereign Financial Group Inc. raised its position in shares of i-80 Gold by 87.9% during the 3rd quarter. Sovereign Financial Group Inc. now owns 31,245 shares of the company's stock worth $30,000 after acquiring an additional 14,618 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in i-80 Gold during the second quarter worth approximately $25,000. Maia Wealth LLC purchased a new stake in shares of i-80 Gold during the 2nd quarter worth approximately $25,000. McAdam LLC boosted its holdings in shares of i-80 Gold by 81.8% in the 2nd quarter. McAdam LLC now owns 53,422 shares of the company's stock valued at $32,000 after buying an additional 24,040 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its position in shares of i-80 Gold by 48.5% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 53,655 shares of the company's stock valued at $32,000 after buying an additional 17,533 shares during the last quarter. 61.31% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.