i-80 Gold (NYSE:IAUX) Trading Down 5.6% - What's Next?

i-80 Gold Corp. (NYSE:IAUX - Get Free Report) shares dropped 5.6% during trading on Friday . The company traded as low as $0.68 and last traded at $0.68. Approximately 3,750,587 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 5,953,801 shares. The stock had previously closed at $0.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. National Bankshares restated an "outperform" rating on shares of i-80 Gold in a research report on Wednesday, April 2nd. Scotiabank dropped their price target on i-80 Gold from $2.25 to $1.50 and set a "sector outperform" rating for the company in a report on Monday, June 2nd. Cormark raised i-80 Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, March 7th. Finally, Royal Bank Of Canada dropped their target price on i-80 Gold from $2.00 to $1.50 and set an "outperform" rating for the company in a report on Monday, June 2nd. Two investment 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. According to data from MarketBeat.com, i-80 Gold has a consensus rating of "Moderate Buy" and a consensus price target of $2.17.

i-80 Gold Price Performance

The firm has a market cap of $546.17 million, a P/E ratio of -1.92 and a beta of 1.10. 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 company's 50-day moving average is $0.59 and its two-hundred day moving average is $0.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IAUX. Kohmann Bosshard Financial Services LLC increased its stake in shares of i-80 Gold by 490.9% in the 4th quarter. Kohmann Bosshard Financial Services LLC now owns 65,000 shares of the company's stock valued at $32,000 after purchasing an additional 54,000 shares during the last quarter. Maia Wealth LLC bought a new position in i-80 Gold in the fourth quarter valued at about $34,000. ProShare Advisors LLC raised its stake in i-80 Gold by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 89,168 shares of the company's stock worth $43,000 after acquiring an additional 29,339 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of i-80 Gold in the fourth quarter worth about $46,000. Finally, Citadel Advisors LLC acquired a new stake in shares of i-80 Gold in the 4th quarter valued at approximately $53,000. 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.

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