i-80 Gold (TSE:IAU) Trading Down 4.8% – Time to Sell?

Shares of i-80 Gold Corp. (TSE:IAU) dropped 4.8% on Friday . The company traded as low as C$0.80 and last traded at C$0.80. Approximately 448,944 shares changed hands during trading, a decline of 30% from the average daily volume of 639,900 shares. The stock had previously closed at C$0.84.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IAU shares. Cormark upgraded i-80 Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. National Bank Financial upgraded shares of i-80 Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 8th. Finally, National Bankshares raised i-80 Gold from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from C$2.25 to C$1.75 in a research report on Thursday, January 9th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$2.55.

i-80 Gold Trading Down 4.8 %

The firm has a 50 day moving average of C$0.90 and a 200 day moving average of C$0.95. The firm has a market cap of C$213.82 million, a PE ratio of -1.48 and a beta of 1.79. The company has a quick ratio of 1.57, a current ratio of 0.33 and a debt-to-equity ratio of 40.07.

i-80 Gold Company Profile

i-80 Gold Corp. is a Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of four new open pit and underground mining operations that will ultimately process ore at the Company’s central Lone Tree complex that includes an Autoclave. The Company’s primary goal is to build a self-sustaining, mid-tier, mining company with a peer-best growth platform by employing a methodical, capital disciplined and staged approach to minimize risk while also assessing and monitoring for accretive growth opportunities.