i-80 Gold (NYSE:IAUX) Trading Up 9.9% - Here's Why

i-80 Gold Corp. (NYSE:IAUX - Get Free Report) shares rose 9.9% on Tuesday . The stock traded as high as $0.66 and last traded at $0.67. Approximately 2,566,805 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 6,804,014 shares. The stock had previously closed at $0.61.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IAUX shares. Royal Bank Of Canada decreased their price target on i-80 Gold from $2.00 to $1.50 and set an "outperform" rating on the stock in a report on Monday, June 2nd. National Bankshares reissued an "outperform" rating on shares of i-80 Gold in a research note on Wednesday, April 2nd. Finally, Scotiabank dropped their price target on shares of i-80 Gold from $2.25 to $1.50 and set a "sector outperform" rating for the company in a research note on Monday, June 2nd. Two 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1.50.

i-80 Gold Trading Down 2.2%

The stock's fifty day simple moving average is $0.61 and its 200-day simple moving average is $0.62. 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 $487.85 million, a PE ratio of -1.72 and a beta of 1.18.

Institutional Trading of i-80 Gold

Several hedge funds and other institutional investors have recently bought and sold shares of IAUX. Clear Harbor Asset Management LLC lifted its holdings 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 purchasing an additional 17,533 shares in the last quarter. Bank of Montreal Can boosted its holdings in i-80 Gold by 6.5% in the 4th quarter. Bank of Montreal Can now owns 310,940 shares of the company's stock valued at $149,000 after purchasing an additional 19,018 shares during the last quarter. Barclays PLC lifted its stake in shares of i-80 Gold by 3.3% in the 4th quarter. Barclays PLC now owns 623,979 shares of the company's stock valued at $302,000 after purchasing an additional 19,910 shares during the last quarter. Rhumbline Advisers raised its stake in shares of i-80 Gold by 5.7% in the 1st 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. Finally, McAdam LLC boosted its holdings in i-80 Gold by 81.8% during the 2nd 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 period. 61.31% of the stock is owned by institutional investors and hedge funds.

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.