i-80 Gold (NYSE:IAUX) Shares Gap Up - Still a Buy?

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.

Shares of i-80 Gold Corp. (NYSE:IAUX - Get Free Report) gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IAUX. Royal Bank Of Canada dropped their price target on i-80 Gold from $2.00 to $1.50 and set an "outperform" rating on the stock in a research 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 on the stock in a research report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1.50.

i-80 Gold Trading Up 0.2%

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 stock has a market capitalization of $776.88 million, a price-to-earnings ratio of -2.62 and a beta of 1.21. The business has a 50 day simple moving average of $0.71 and a 200-day simple moving average of $0.64.

Institutional Trading of i-80 Gold

Several institutional investors and hedge funds have recently bought and sold shares of the business. NewGen Asset Management Ltd acquired a new position in shares of i-80 Gold in the second quarter valued at approximately $5,206,000. Hudson Bay Capital Management LP acquired a new stake in shares of i-80 Gold during the 2nd quarter valued at $56,000. Tower Research Capital LLC TRC boosted its holdings in shares of i-80 Gold by 607.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 128,116 shares of the company's stock valued at $77,000 after acquiring an additional 110,010 shares in the last quarter. Raffles Associates LP bought a new position in i-80 Gold during the 2nd quarter worth $180,000. Finally, Tidal Investments LLC bought a new position in i-80 Gold during the 2nd quarter worth $2,507,000. 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.

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