NewGen Asset Management Ltd Takes Position in i-80 Gold Corp. (NYSE:IAUX)

NewGen Asset Management Ltd bought a new position in shares of i-80 Gold Corp. (NYSE:IAUX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,950,000 shares of the company's stock, valued at approximately $1,415,000. i-80 Gold comprises 1.3% of NewGen Asset Management Ltd's investment portfolio, making the stock its 22nd largest position. NewGen Asset Management Ltd owned 0.67% of i-80 Gold at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IAUX. State Street Corp raised its position in shares of i-80 Gold by 16.3% during the third quarter. State Street Corp now owns 4,260,438 shares of the company's stock worth $4,942,000 after acquiring an additional 596,190 shares during the last quarter. Barclays PLC raised its holdings in i-80 Gold by 117.0% during the 3rd quarter. Barclays PLC now owns 604,069 shares of the company's stock worth $701,000 after purchasing an additional 325,664 shares during the last quarter. Geode Capital Management LLC lifted its position in i-80 Gold by 22.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,773,197 shares of the company's stock valued at $4,377,000 after purchasing an additional 702,326 shares during the period. Tidal Investments LLC boosted its stake in shares of i-80 Gold by 66.1% in the 3rd quarter. Tidal Investments LLC now owns 19,823,761 shares of the company's stock valued at $22,996,000 after purchasing an additional 7,889,867 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of i-80 Gold by 27.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 146,953 shares of the company's stock valued at $170,000 after purchasing an additional 31,315 shares during the last quarter. 61.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IAUX shares. National Bankshares restated an "outperform" rating on shares of i-80 Gold in a report on Wednesday, April 2nd. National Bank Financial upgraded i-80 Gold from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 8th. Finally, Cormark upgraded i-80 Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, i-80 Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.50.

i-80 Gold Stock Down 3.5 %

Shares of IAUX traded down $0.02 during trading hours on Friday, reaching $0.59. The stock had a trading volume of 2,294,854 shares, compared to its average volume of 5,680,183. The company has a market cap of $259.81 million, a P/E ratio of -1.63 and a beta of 1.26. i-80 Gold Corp. has a 52 week low of $0.34 and a 52 week high of $1.44. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19. The company's 50-day moving average is $0.64.

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.