i-80 Gold (NYSE:IAUX) Stock Price Up 9.7% - Still a Buy?

Key Points

• i-80 Gold shares rose 9.7% to $1.734 during Wednesday trading, outperforming the previous close of $1.58, though volume was 88% below the average daily level.
• UBS Group set a $2.60 price target, implying potential upside from the current price. However, i-80 Gold reported weak liquidity ratios, a negative P/E ratio of -4.79, and a debt-to-equity ratio of 0.19.
• Institutional investors own 61.31% of the company, with several firms recently initiating or increasing positions, while director John Arthur Begeman sold 24,356 shares at an average price of $1.59.

i-80 Gold Corp. (NYSE:IAUX - Get Free Report) shares traded up 9.7% during trading on Wednesday . The stock traded as high as $1.71 and last traded at $1.7340. 1,496,727 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 12,517,165 shares. The stock had previously closed at $1.58.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $2.60 price objective on i-80 Gold in a research report on Tuesday, June 2nd.

i-80 Gold Price Performance

The company has a quick ratio of 0.22, a current ratio of 0.33 and a debt-to-equity ratio of 0.19. The firm's 50 day simple moving average is $1.45 and its 200 day simple moving average is $1.58. The company has a market capitalization of $1.49 billion, a PE ratio of -4.79 and a beta of 1.17.

Insider Activity at i-80 Gold

In related news, Director John Arthur Begeman sold 24,356 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $1.59, for a total transaction of $38,726.04. Following the transaction, the director directly owned 827,354 shares in the company, valued at approximately $1,315,492.86. This represents a 2.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Banco BTG Pactual S.A. bought a new position in shares of i-80 Gold during the second quarter valued at approximately $25,000. State of Wisconsin Investment Board bought a new stake in shares of i-80 Gold during the 4th quarter worth approximately $27,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in i-80 Gold by 49.5% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,420 shares of the company's stock valued at $32,000 after acquiring an additional 7,420 shares during the period. Deutsche Bank AG purchased a new position in i-80 Gold during the 4th quarter valued at $32,000. Finally, Pasadena Private Wealth LLC bought a new position in i-80 Gold in the 2nd quarter valued at $36,000. 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 Canadian-focused gold exploration, development and production company with a strategic emphasis on precious metal assets in the state of Nevada, USA. The company pursues a district-scale approach, seeking to consolidate under-explored gold belts and advance resource-stage projects toward commercial production. Its core objective is to build a balanced portfolio of operating and development assets that generate cash flow while supporting ongoing exploration.

The company’s flagship asset is the 100%-owned Ruby Hill complex in Humboldt County, Nevada, which encompasses multiple gold and silver deposits at various stages of technical study and permitting.

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