Insider Selling: i-80 Gold (NYSE:IAUX) Director Sells 19,231 Shares

Key Points

• Director John Arthur Begeman sold 19,231 i-80 Gold shares at an average price of $1.74, generating $33,461.94. His remaining direct ownership fell 2.27% to 827,354 shares.
• IAUX shares traded at $1.76, with a market capitalization of approximately $1.52 billion; the stock has ranged from $0.77 to $2.24 over the past year.
• UBS set a $2.60 price target for i-80 Gold, while institutional investors collectively own 61.31% of the company.

i-80 Gold Corp. (NYSE:IAUX - Get Free Report) Director John Arthur Begeman sold 19,231 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $1.74, for a total value of $33,461.94. Following the sale, the director directly owned 827,354 shares in the company, valued at approximately $1,439,595.96. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

i-80 Gold Price Performance

IAUX stock traded up $0.06 during midday trading on Wednesday, reaching $1.76. The company had a trading volume of 5,115,436 shares, compared to its average volume of 12,581,301. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -4.89 and a beta of 1.22. The stock has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.58. i-80 Gold Corp. has a 1-year low of $0.77 and a 1-year high of $2.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On i-80 Gold

Several hedge funds and other institutional investors have recently modified their holdings of IAUX. Rathbones Group PLC increased its position in i-80 Gold by 5.1% during the 4th quarter. Rathbones Group PLC now owns 123,740 shares of the company's stock worth $181,000 after purchasing an additional 6,000 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position 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 worth $32,000 after acquiring an additional 7,420 shares during the last quarter. Bank of Montreal Can increased its holdings in i-80 Gold by 1.1% in the 4th quarter. Bank of Montreal Can now owns 841,225 shares of the company's stock worth $1,238,000 after purchasing an additional 9,175 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in i-80 Gold by 4.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 246,655 shares of the company's stock worth $360,000 after purchasing an additional 10,518 shares in the last quarter. Finally, LPL Financial LLC raised its position in i-80 Gold by 3.1% in the fourth quarter. LPL Financial LLC now owns 429,440 shares of the company's stock valued at $627,000 after purchasing an additional 13,000 shares during the last quarter. 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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