i-80 Gold (NYSE:IAUX) Stock Price Down 5.4% - Here's Why

Key Points

• i-80 Gold Corp. shares fell 5.4%, trading at $0.87, with volume down 68% compared to average session trading.
• Analysts have lowered price targets for i-80 Gold, with the consensus target now at $1.50, while holding a "Moderate Buy" rating.
• Institutional investors and hedge funds collectively own 61.31% of i-80 Gold, with several increasing their stakes significantly in the last quarter.

Shares of i-80 Gold Corp. (NYSE:IAUX - Get Free Report) were down 5.4% on Tuesday . The stock traded as low as $0.87 and last traded at $0.87. Approximately 1,865,642 shares traded hands during trading, a decline of 68% from the average daily volume of 5,870,735 shares. The stock had previously closed at $0.92.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IAUX shares. Royal Bank Of Canada dropped their target price 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. Scotiabank dropped their target price on i-80 Gold from $2.25 to $1.50 and set a "sector outperform" rating for the company in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1.50.

i-80 Gold Price Performance

The business has a 50-day simple moving average of $0.71 and a 200 day simple moving average of $0.64. The firm has a market cap of $775.24 million, a P/E ratio of -2.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33.

Institutional Trading of i-80 Gold

A number of institutional investors and hedge funds have recently modified their holdings of IAUX. Jane Street Group LLC boosted its stake in shares of i-80 Gold by 231.6% in the 4th quarter. Jane Street Group LLC now owns 994,388 shares of the company's stock worth $477,000 after buying an additional 694,477 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of i-80 Gold by 151.0% in the 4th quarter. Bank of America Corp DE now owns 696,440 shares of the company's stock worth $338,000 after buying an additional 419,025 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of i-80 Gold in the 4th quarter worth $53,000. Millennium Management LLC purchased a new position in shares of i-80 Gold in the 4th quarter worth $235,000. Finally, ProShare Advisors LLC boosted its stake in shares of i-80 Gold by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 89,168 shares of the company's stock worth $43,000 after buying an additional 29,339 shares during the last quarter. Institutional investors own 61.31% of the company's stock.

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.