i-80 Gold (NYSE:IAUX) Shares Up 6.9% - Should You Buy?

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

Analyst Upgrades and Downgrades

IAUX has been the topic of a number of research reports. National Bankshares reissued an "outperform" rating on shares of i-80 Gold in a research note on Wednesday, April 2nd. Scotiabank dropped their price objective 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. Cormark raised i-80 Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th. Finally, 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 report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2.17.

i-80 Gold Stock Up 0.5%

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 firm has a market cap of $521.74 million, a PE ratio of -1.84 and a beta of 1.10. The business has a fifty day moving average price of $0.57 and a two-hundred day moving average price of $0.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in i-80 Gold by 23.7% in the fourth quarter. SG Americas Securities LLC now owns 129,070 shares of the company's stock valued at $63,000 after purchasing an additional 24,740 shares in the last quarter. Raymond James Financial Inc. purchased a new position in i-80 Gold in the fourth quarter valued at about $68,000. ProShare Advisors LLC grew its stake in i-80 Gold by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 89,168 shares of the company's stock valued at $43,000 after purchasing an additional 29,339 shares in the last quarter. Rhumbline Advisers grew its stake in i-80 Gold by 14.4% in the fourth quarter. Rhumbline Advisers now owns 372,574 shares of the company's stock valued at $181,000 after purchasing an additional 46,951 shares in the last quarter. Finally, Barclays PLC grew its stake in i-80 Gold by 3.3% in the fourth quarter. Barclays PLC now owns 623,979 shares of the company's stock valued at $302,000 after purchasing an additional 19,910 shares in the last quarter. Hedge funds and other 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.