i-80 Gold (TSE:IAU) Trading 1.4% Higher – Here’s Why

i-80 Gold Corp. (TSE:IAU)’s stock price shot up 1.4% during trading on Tuesday . The stock traded as high as C$0.74 and last traded at C$0.74. 415,759 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 678,994 shares. The stock had previously closed at C$0.73.

Analysts Set New Price Targets

Separately, Cormark raised shares of i-80 Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$2.55.

i-80 Gold Stock Up 1.4%

The stock has a market cap of C$197.78 million, a P/E ratio of -1.36 and a beta of 1.79. The company’s 50 day moving average price is C$0.81 and its two-hundred day moving average price is C$0.85. The company has a current ratio of 0.33, a quick ratio of 1.57 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.