i-80 Gold (NYSE:IAUX) Shares Gap Up - What's Next?

i-80 Gold Corp. (NYSE:IAUX - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $0.66, but opened at $0.70. i-80 Gold shares last traded at $0.68, with a volume of 1,423,290 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on IAUX. National Bankshares reaffirmed an "outperform" rating on shares of i-80 Gold in a report on Wednesday, April 2nd. Royal Bank of Canada dropped their price objective 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. Cormark raised i-80 Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, March 7th. Finally, Scotiabank dropped their price objective 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. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, i-80 Gold currently has an average rating of "Moderate Buy" and an average price target of $2.17.

i-80 Gold Price Performance

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 company has a market cap of $521.74 million, a price-to-earnings ratio of -1.84 and a beta of 1.10. The business has a fifty day moving average price of $0.57 and a 200 day moving average price of $0.60.

Hedge Funds Weigh In On i-80 Gold

A number of institutional investors have recently modified their holdings of IAUX. Pale Fire Capital SE raised its holdings 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 buying an additional 6,801,325 shares in the last quarter. Renaissance Technologies LLC increased its holdings in i-80 Gold by 429.0% in the 4th quarter. Renaissance Technologies LLC now owns 5,910,533 shares of the company's stock worth $2,867,000 after purchasing an additional 4,793,333 shares in the last quarter. Trek Financial LLC increased its holdings in i-80 Gold by 246.6% in the 4th quarter. Trek Financial LLC now owns 6,541,417 shares of the company's stock worth $3,173,000 after purchasing an additional 4,653,867 shares in the last quarter. NewGen Asset Management Ltd acquired a new position in i-80 Gold in the 4th quarter worth about $1,415,000. Finally, Sprott Inc. increased its holdings in i-80 Gold by 15.0% in 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 in the last quarter. Institutional investors and hedge funds own 61.31% of the company's stock.

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.