i-80 Gold (NYSE:IAUX) Trading Up 5.6% – Still a Buy?

Shares of i-80 Gold Corp. (NYSE:IAUX) were up 5.6% during mid-day trading on Friday . The stock traded as high as $1.4050 and last traded at $1.4050. Approximately 3,836,908 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 13,055,868 shares. The stock had previously closed at $1.33.

i-80 Gold Stock Up 7.5%

The business has a fifty day simple moving average of $1.76 and a 200 day simple moving average of $1.37. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -3.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in i-80 Gold during the 3rd quarter worth $22,877,000. Pale Fire Capital SE grew its holdings in shares of i-80 Gold by 25.2% during the second quarter. Pale Fire Capital SE now owns 21,263,656 shares of the company’s stock worth $12,724,000 after buying an additional 4,282,561 shares in the last quarter. Equinox Partners Investment Management LLC acquired a new stake in shares of i-80 Gold in the second quarter valued at about $6,909,000. Trek Financial LLC raised its position in shares of i-80 Gold by 4.7% in the third quarter. Trek Financial LLC now owns 11,173,852 shares of the company’s stock valued at $10,675,000 after buying an additional 504,035 shares during the last quarter. Finally, Amundi raised its position in shares of i-80 Gold by 8,598.4% in the fourth quarter. Amundi now owns 10,872,975 shares of the company’s stock valued at $15,875,000 after buying an additional 10,747,975 shares during the last quarter. 61.31% of the stock is owned by institutional investors and hedge funds.

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.