i-80 Gold (NYSE:IAUX) Shares Down 2.8% - What's Next?

Key Points

• i-80 Gold shares fell 2.8% on Friday, trading as low as $1.39 and closing around $1.40, with volume below its recent average.
• UBS Group reiterated a bullish view by setting a $2.60 price target on the stock, suggesting notable upside from recent levels.
• Insider and institutional activity was mixed: Director Steven W. Yopps bought 50,000 shares, while Director John Arthur Begeman sold 24,356 shares; meanwhile, institutional investors remain the dominant owners with 61.31% of shares.

i-80 Gold Corp. (NYSE:IAUX - Get Free Report)'s share price traded down 2.8% on Friday . The stock traded as low as $1.39 and last traded at $1.40. 8,089,584 shares were traded during trading, a decline of 38% from the average daily volume of 13,055,450 shares. The stock had previously closed at $1.44.

Wall Street Analyst Weigh In

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

i-80 Gold Trading Down 2.8%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33. The stock has a market capitalization of $1.21 billion, a PE ratio of -3.89 and a beta of 1.15. The stock has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.61.

Insider Activity at i-80 Gold

In other news, Director Steven W. Yopps purchased 50,000 shares of the company's stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at $73,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Arthur Begeman sold 24,356 shares of the company'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 transaction of $38,726.04. Following the completion of the transaction, the director owned 827,354 shares of the company's stock, valued at approximately $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. Corporate insiders own 1.42% of the company's stock.

Institutional Trading of i-80 Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Castleview Partners LLC bought a new position in i-80 Gold in the 4th quarter worth $1,189,000. SG Americas Securities LLC raised its holdings in i-80 Gold by 2,016.6% during the first quarter. SG Americas Securities LLC now owns 337,090 shares of the company's stock valued at $512,000 after acquiring an additional 321,164 shares during the period. DGS Capital Management LLC bought a new stake in i-80 Gold during the fourth quarter valued at about $49,000. TritonPoint Partners LLC purchased a new position in shares of i-80 Gold in the fourth quarter valued at about $88,000. Finally, Rathbones Group PLC lifted its position in shares of i-80 Gold by 5.1% in the fourth quarter. Rathbones Group PLC now owns 123,740 shares of the company's stock valued at $181,000 after acquiring an additional 6,000 shares in the last quarter. 61.31% of the stock is currently owned by institutional investors.

About i-80 Gold

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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