i-80 Gold (NYSE:IAUX) Trading 6.9% Higher - Time to Buy?

i-80 Gold Corp. (NYSE:IAUX - Get Free Report) was up 6.9% during mid-day trading on Wednesday . The company traded as high as $0.67 and last traded at $0.66. Approximately 6,515,138 shares traded hands during trading, an increase of 4% from the average daily volume of 6,243,680 shares. The stock had previously closed at $0.62.

Analysts Set New Price Targets

A number of analysts have recently issued reports 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 on the stock in a research report on Monday, June 2nd. Cormark raised i-80 Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th. National Bankshares reaffirmed an "outperform" rating on shares of i-80 Gold in a research report on Wednesday, April 2nd. Finally, 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. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2.17.

i-80 Gold Stock Performance

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 $525.20 million, a P/E ratio of -1.85 and a beta of 1.10. The company has a fifty day moving average of $0.58 and a two-hundred day moving average of $0.60.

Institutional Trading of i-80 Gold

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in i-80 Gold by 5.7% in 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 period. Goldman Sachs Group Inc. boosted its stake in i-80 Gold by 40.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,436,918 shares of the company's stock valued at $2,000,000 after acquiring an additional 987,083 shares during the period. AQR Capital Management LLC boosted its stake in i-80 Gold by 1,345.4% in the first quarter. AQR Capital Management LLC now owns 195,706 shares of the company's stock valued at $114,000 after acquiring an additional 182,166 shares during the period. MetLife Investment Management LLC boosted its stake in i-80 Gold by 76.8% in the first quarter. MetLife Investment Management LLC now owns 160,403 shares of the company's stock valued at $93,000 after acquiring an additional 69,655 shares during the period. Finally, Pale Fire Capital SE boosted its stake in i-80 Gold by 66.8% in the first quarter. Pale Fire Capital SE now owns 16,981,095 shares of the company's stock valued at $9,880,000 after acquiring an additional 6,801,325 shares during the period. 61.31% of the stock is owned by institutional investors.

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.