i-80 Gold (NYSE:IAUX) Stock Price Down 2.8% – Should You Sell?

i-80 Gold Corp. (NYSE:IAUX) shares were down 2.8% during mid-day trading on Friday . The stock traded as low as $1.39 and last traded at $1.40. 8,089,584 shares changed hands during trading, a decline of 38% from the average daily volume of 13,055,450 shares. The stock had previously closed at $1.44.

Wall Street Analyst Weigh In

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

i-80 Gold Stock Down 2.8%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33. The firm has a market capitalization of $1.21 billion, a PE ratio of -3.89 and a beta of 1.15. The company has a fifty day moving average price of $1.50 and a 200-day moving average price of $1.61.

Insider Buying and Selling at i-80 Gold

In related news, Director John Arthur Begeman sold 24,356 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $1.59, for a total transaction of $38,726.04. Following the sale, the director owned 827,354 shares of the company’s stock, valued at $1,315,492.86. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven W. Yopps acquired 50,000 shares of the stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $1.47 per share, with a total value of $73,500.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $73,500. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.42% of the company’s stock.

Institutional Trading of i-80 Gold

Several hedge funds have recently made changes to their positions in IAUX. Cypress Wealth Services LLC bought a new position in shares of i-80 Gold in the 4th quarter valued at about $25,000. Banco BTG Pactual S.A. purchased a new position in i-80 Gold in the second quarter worth about $25,000. State of Wisconsin Investment Board bought a new stake in i-80 Gold during the fourth quarter worth approximately $27,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in i-80 Gold by 49.5% during the second 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. Finally, Deutsche Bank AG bought a new stake in i-80 Gold during the fourth quarter worth approximately $32,000. 61.31% of the stock is currently owned by hedge funds and other institutional investors.

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.