Scotiabank Issues Pessimistic Forecast for i-80 Gold (NYSE:IAUX) Stock Price

i-80 Gold (NYSE:IAUX - Get Free Report) had its price target reduced by investment analysts at Scotiabank from $2.25 to $1.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 144.06% from the company's current price.

Several other equities analysts also recently issued reports on IAUX. Cormark raised shares of i-80 Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, March 7th. National Bankshares reissued an "outperform" rating on shares of i-80 Gold in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada cut their price target on shares of i-80 Gold from $2.00 to $1.50 and set an "outperform" rating for the company in a report on Monday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $2.17.

i-80 Gold Price Performance

IAUX stock traded up $0.06 during trading on Monday, hitting $0.61. 25,892,384 shares of the stock traded hands, compared to its average volume of 6,144,530. i-80 Gold has a one year low of $0.34 and a one year high of $1.26. The stock has a market cap of $484.38 million, a price-to-earnings ratio of -1.71 and a beta of 1.10. The company has a 50 day simple moving average of $0.56 and a 200 day simple moving average of $0.60. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On i-80 Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. McAdam LLC increased its position in i-80 Gold by 388.5% in the 4th quarter. McAdam LLC now owns 64,747 shares of the company's stock valued at $31,000 after acquiring an additional 51,493 shares in the last quarter. Kohmann Bosshard Financial Services LLC increased its position in i-80 Gold by 490.9% in the 4th quarter. Kohmann Bosshard Financial Services LLC now owns 65,000 shares of the company's stock valued at $32,000 after acquiring an additional 54,000 shares in the last quarter. Maia Wealth LLC acquired a new stake in i-80 Gold in the 4th quarter valued at about $34,000. ProShare Advisors LLC increased its position in i-80 Gold by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 89,168 shares of the company's stock valued at $43,000 after acquiring an additional 29,339 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of i-80 Gold during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 61.31% of the company's stock.

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.