i-80 Gold (NYSE:IAUX) Shares Gap Up – Here’s What Happened

i-80 Gold Corp. (NYSE:IAUX) gapped up prior to trading on Monday . The stock had previously closed at $0.96, but opened at $1.02. i-80 Gold shares last traded at $1.00, with a volume of 2,393,521 shares trading hands.

Wall Street Analysts Forecast Growth

IAUX has been the topic of several analyst reports. Royal Bank Of Canada reduced their price objective on i-80 Gold from $2.00 to $1.50 and set an “outperform” rating on the stock in a research note on Monday, June 2nd. Scotiabank cut their price target on i-80 Gold from $2.25 to $1.50 and set a “sector outperform” rating on the stock in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1.50.

i-80 Gold Stock Performance

The stock’s 50-day moving average price is $0.75 and its 200-day moving average price is $0.65. 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 company has a market capitalization of $772.43 million, a price-to-earnings ratio of -2.72 and a beta of 1.21.

Institutional Investors Weigh In On i-80 Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Maia Wealth LLC acquired a new position in shares of i-80 Gold during the 2nd quarter worth approximately $25,000. Banco BTG Pactual S.A. purchased a new stake in i-80 Gold in the 2nd quarter worth approximately $25,000. Clear Harbor Asset Management LLC grew its stake in i-80 Gold by 48.5% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 53,655 shares of the company’s stock worth $32,000 after acquiring an additional 17,533 shares during the period. McAdam LLC grew its stake in i-80 Gold by 81.8% in the 2nd quarter. McAdam LLC now owns 53,422 shares of the company’s stock worth $32,000 after acquiring an additional 24,040 shares during the period. Finally, Stonebrook Private Inc. grew its stake in i-80 Gold by 80.3% in the 2nd quarter. Stonebrook Private Inc. now owns 61,737 shares of the company’s stock worth $37,000 after acquiring an additional 27,502 shares during the period. 61.31% of the stock is currently owned by institutional investors and hedge funds.

i-80 Gold Company Profile

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.