i-80 Gold (NYSE:IAUX) Sets New 1-Year High – What’s Next?
by Kim Johansen · The Markets DailyShares of i-80 Gold Corp. (NYSE:IAUX – Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $1.73 and last traded at $1.7350, with a volume of 2252820 shares changing hands. The stock had previously closed at $1.60.
i-80 Gold Price Performance
The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $1.34 and a 200 day moving average of $1.00. The firm has a market capitalization of $1.41 billion, a PE ratio of -4.87 and a beta of 1.18.
Insider Activity at i-80 Gold
In other news, Director John William Seaman purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were acquired at an average cost of $1.30 per share, for a total transaction of $26,000.00. Following the completion of the acquisition, the director owned 346,942 shares in the company, valued at $451,024.60. This trade represents a 6.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 55,000 shares of company stock valued at $62,150 in the last three months. Corporate insiders own 2.08% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAUX. AQR Capital Management LLC increased its stake in shares of i-80 Gold by 1,345.4% during the 1st quarter. AQR Capital Management LLC now owns 195,706 shares of the company’s stock worth $114,000 after purchasing an additional 182,166 shares during the last quarter. Goldman Sachs Group Inc. increased its position in i-80 Gold by 40.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,436,918 shares of the company’s stock worth $2,000,000 after buying an additional 987,083 shares during the last quarter. Rhumbline Advisers raised its stake in shares of i-80 Gold by 5.7% in the first quarter. Rhumbline Advisers now owns 393,756 shares of the company’s stock valued at $229,000 after buying an additional 21,182 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of i-80 Gold by 36.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 805,550 shares of the company’s stock valued at $509,000 after buying an additional 215,283 shares during the last quarter. Finally, Clear Harbor Asset Management LLC lifted its position in shares of i-80 Gold by 48.5% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 53,655 shares of the company’s stock valued at $32,000 after buying an additional 17,533 shares during the last quarter. 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.