i-80 Gold (TSE:IAU) Trading Down 4.8% - Here's What Happened

Shares of i-80 Gold Corp. (TSE:IAU - Get Free Report) were down 4.8% during mid-day trading on Friday . The company traded as low as C$0.80 and last traded at C$0.80. Approximately 448,944 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 639,900 shares. The stock had previously closed at C$0.84.

Analysts Set New Price Targets

IAU has been the subject of a number of recent analyst reports. Cormark raised i-80 Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th. National Bankshares raised shares of i-80 Gold from a "sector perform" rating to an "outperform" rating and cut their price objective for the company from C$2.25 to C$1.75 in a report on Thursday, January 9th. Finally, National Bank Financial raised shares of i-80 Gold from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$2.55.

i-80 Gold Stock Down 4.8 %

The company has a debt-to-equity ratio of 40.07, a quick ratio of 1.57 and a current ratio of 0.33. The firm has a market capitalization of C$213.82 million, a PE ratio of -1.48 and a beta of 1.79. The company has a fifty day moving average price of C$0.90 and a 200-day moving average price of C$0.95.

About i-80 Gold

i-80 Gold Corp. is a Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of four new open pit and underground mining operations that will ultimately process ore at the Company's central Lone Tree complex that includes an Autoclave. The Company's primary goal is to build a self-sustaining, mid-tier, mining company with a peer-best growth platform by employing a methodical, capital disciplined and staged approach to minimize risk while also assessing and monitoring for accretive growth opportunities.

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