i-80 Gold (NYSE:IAUX) Shares Gap Up - Here's Why

Key Points

• i-80 Gold Corp. shares gapped up from $0.95 to $1.04 before trading at $0.98, indicating a potential increase in interest and activity among investors.
• Wall Street analysts have a consensus rating of "Moderate Buy" for i-80 Gold, with an average price target decreased to $1.50, signaling mixed sentiment about future performance.
• Institutional investors own over 61% of i-80 Gold's stock, with significant recent investments, suggesting strong institutional confidence in the company.

i-80 Gold Corp. (NYSE:IAUX - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $0.95, but opened at $1.04. i-80 Gold shares last traded at $0.98, with a volume of 2,256,375 shares traded.

Wall Street Analysts Forecast Growth

IAUX has been the topic of several recent analyst reports. Royal Bank Of Canada cut their target price on i-80 Gold from $2.00 to $1.50 and set an "outperform" rating on the stock in a research note on Monday, June 2nd. Scotiabank cut their target price on i-80 Gold from $2.25 to $1.50 and set a "sector outperform" rating on the stock in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1.50.

i-80 Gold Price Performance

The firm has a fifty day moving average price of $0.72 and a two-hundred day moving average price of $0.65. The stock has a market capitalization of $807.07 million, a P/E ratio of -2.79 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 hedge funds have recently bought and sold shares of the company. Clear Harbor Asset Management LLC increased its position in i-80 Gold by 48.5% during the second quarter. Clear Harbor Asset Management LLC now owns 53,655 shares of the company's stock valued at $32,000 after acquiring an additional 17,533 shares during the last quarter. Kohmann Bosshard Financial Services LLC increased its position in i-80 Gold by 27.7% during the second quarter. Kohmann Bosshard Financial Services LLC now owns 83,000 shares of the company's stock valued at $50,000 after acquiring an additional 18,000 shares during the last quarter. Rhumbline Advisers increased its position in i-80 Gold by 5.7% during the first quarter. Rhumbline Advisers now owns 393,756 shares of the company's stock valued at $229,000 after acquiring an additional 21,182 shares during the last quarter. McAdam LLC increased its position in i-80 Gold by 81.8% during the second quarter. McAdam LLC now owns 53,422 shares of the company's stock valued at $32,000 after acquiring an additional 24,040 shares during the last quarter. Finally, Stonebrook Private Inc. increased its position in i-80 Gold by 80.3% during the second quarter. Stonebrook Private Inc. now owns 61,737 shares of the company's stock valued at $37,000 after acquiring an additional 27,502 shares during the last quarter. Hedge funds and other institutional investors 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.