i-80 Gold Corp. (NYSE:IAUX) Receives $3.50 Average PT from Brokerages

i-80 Gold Corp. (NYSE:IAUX) has earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $2.17.

A number of brokerages have recently commented on IAUX. Royal Bank of Canada decreased their price objective on shares of i-80 Gold from $2.00 to $1.50 and set an “outperform” rating for the company in a research report on Monday. Scotiabank decreased their price objective on shares of i-80 Gold from $2.25 to $1.50 and set a “sector outperform” rating for the company in a research report on Monday. Cormark raised shares of i-80 Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Finally, National Bankshares restated an “outperform” rating on shares of i-80 Gold in a research note on Wednesday, April 2nd.

Institutional Trading of i-80 Gold

A number of hedge funds have recently modified their holdings of the stock. Pale Fire Capital SE raised its stake in i-80 Gold by 66.8% in the 1st quarter. Pale Fire Capital SE now owns 16,981,095 shares of the company’s stock worth $9,880,000 after purchasing an additional 6,801,325 shares in the last quarter. Renaissance Technologies LLC raised its stake in i-80 Gold by 429.0% in the 4th quarter. Renaissance Technologies LLC now owns 5,910,533 shares of the company’s stock worth $2,867,000 after purchasing an additional 4,793,333 shares in the last quarter. Trek Financial LLC raised its stake in i-80 Gold by 246.6% in the 4th quarter. Trek Financial LLC now owns 6,541,417 shares of the company’s stock worth $3,173,000 after purchasing an additional 4,653,867 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in i-80 Gold in the 4th quarter worth about $1,415,000. Finally, Sprott Inc. raised its stake in i-80 Gold by 15.0% in the 1st quarter. Sprott Inc. now owns 19,700,922 shares of the company’s stock worth $11,633,000 after purchasing an additional 2,575,661 shares in the last quarter. Institutional investors and hedge funds own 61.31% of the company’s stock.

i-80 Gold Stock Performance

Shares of IAUX opened at $0.55 on Friday. The firm has a 50-day moving average of $0.56 and a 200-day moving average of $0.60. i-80 Gold has a one year low of $0.34 and a one year high of $1.26. The company has a market cap of $430.31 million, a PE ratio of -1.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22.

About i-80 Gold

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.