i-80 Gold (NYSE:IAUX) Trading Up 8% - Still a Buy?

Key Points

• i-80 Gold Corp. experienced an 8% increase in its stock price, trading at $0.69 after closing at $0.64 the previous day, despite a decrease in trading volume.
• Analyst ratings have varied, with target prices reduced by Scotiabank and Royal Bank of Canada to $1.50, resulting in a consensus rating of "Moderate Buy."
• Institutional investors hold 61.31% of i-80 Gold, with several firms increasing their stakes during the second quarter.

i-80 Gold Corp. (NYSE:IAUX - Get Free Report)'s stock price traded up 8% during trading on Friday . The company traded as high as $0.68 and last traded at $0.69. 4,101,804 shares traded hands during trading, a decline of 31% from the average session volume of 5,908,624 shares. The stock had previously closed at $0.64.

Analyst Ratings Changes

A number of research analysts have issued reports on IAUX shares. Scotiabank cut their target price on shares of 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. Royal Bank Of Canada dropped their target price on shares of i-80 Gold from $2.00 to $1.50 and set an "outperform" rating on the stock in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1.50.

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 50-day simple moving average of $0.63 and a 200-day simple moving average of $0.62. The stock has a market cap of $543.25 million, a P/E ratio of -1.93 and a beta of 1.17.

Institutional Trading of i-80 Gold

Several institutional investors have recently added to or reduced their stakes in IAUX. Maia Wealth LLC bought a new position in shares of i-80 Gold in the second quarter valued at $25,000. Banco BTG Pactual S.A. purchased a new stake in shares of i-80 Gold in the 2nd quarter valued at about $25,000. Clear Harbor Asset Management LLC raised its holdings in shares of i-80 Gold by 48.5% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 53,655 shares of the company's stock valued at $32,000 after acquiring an additional 17,533 shares in the last quarter. McAdam LLC raised its holdings in shares of i-80 Gold by 81.8% in 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 in the last quarter. Finally, Stonebrook Private Inc. raised its holdings in shares of i-80 Gold by 80.3% in the 2nd quarter. Stonebrook Private Inc. now owns 61,737 shares of the company's stock valued at $37,000 after acquiring an additional 27,502 shares in the last quarter. 61.31% of the stock is currently 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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