i-80 Gold (NYSE:IAUX) Price Target Lowered to $1.50 at Royal Bank of Canada

i-80 Gold (NYSE:IAUX - Get Free Report) had its target price decreased by Royal Bank of Canada from $2.00 to $1.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's target price suggests a potential upside of 144.06% from the company's current price.

Other analysts have also recently issued reports about the stock. National Bankshares restated an "outperform" rating on shares of i-80 Gold in a research note on Wednesday, April 2nd. Cormark upgraded shares of i-80 Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th. Two research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2.17.

i-80 Gold Stock Performance

NYSE IAUX traded up $0.06 on Monday, hitting $0.61. 25,892,384 shares of the company's stock traded hands, compared to its average volume of 6,144,530. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19. i-80 Gold has a 1-year low of $0.34 and a 1-year high of $1.26. The firm's 50-day moving average price is $0.56 and its two-hundred day moving average price is $0.60. The firm has a market capitalization of $484.38 million, a PE ratio of -1.71 and a beta of 1.10.

Hedge Funds Weigh In On i-80 Gold

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of i-80 Gold by 5.7% in the 1st quarter. Rhumbline Advisers now owns 393,756 shares of the company's stock valued at $229,000 after purchasing an additional 21,182 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of i-80 Gold by 40.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,436,918 shares of the company's stock valued at $2,000,000 after acquiring an additional 987,083 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of i-80 Gold by 1,345.4% during the 1st quarter. AQR Capital Management LLC now owns 195,706 shares of the company's stock valued at $114,000 after acquiring an additional 182,166 shares during the last quarter. MetLife Investment Management LLC lifted its position in i-80 Gold by 76.8% in the first quarter. MetLife Investment Management LLC now owns 160,403 shares of the company's stock valued at $93,000 after buying an additional 69,655 shares during the last quarter. Finally, Pale Fire Capital SE lifted its position in i-80 Gold by 66.8% in the first quarter. Pale Fire Capital SE now owns 16,981,095 shares of the company's stock valued at $9,880,000 after buying an additional 6,801,325 shares during the last quarter. 61.31% of the stock is currently owned by institutional investors and hedge funds.

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.