i-80 Gold (NYSE:IAUX) Shares Gap Down – Should You Sell?

i-80 Gold Corp. (NYSE:IAUX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $1.53, but opened at $1.46. i-80 Gold shares last traded at $1.5450, with a volume of 613,001 shares trading hands.

i-80 Gold Stock Down 0.7%

The company has a quick ratio of 0.22, a current ratio of 0.33 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $1.26 and a 200-day simple moving average of $0.95. The company has a market cap of $1.20 billion, a PE ratio of -4.17 and a beta of 1.18.

Insider Buying and Selling

In other news, Director John William Seaman acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $1.03 per share, for a total transaction of $30,900.00. Following the acquisition, the director owned 326,942 shares of the company’s stock, valued at approximately $336,750.26. This trade represents a 10.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 55,000 shares of company stock valued at $62,150. 2.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On i-80 Gold

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of i-80 Gold by 92.2% during the 2nd quarter. Bank of Montreal Can now owns 665,813 shares of the company’s stock worth $411,000 after purchasing an additional 319,394 shares during the last quarter. Monaco Asset Management SAM purchased a new position in i-80 Gold during the second quarter worth about $6,503,000. NewGen Equity Long Short Fund acquired a new stake in shares of i-80 Gold during the second quarter valued at about $5,206,000. Forge First Asset Management Inc. purchased a new stake in shares of i-80 Gold in the 2nd quarter valued at approximately $4,871,000. Finally, NewGen Asset Management Ltd acquired a new position in shares of i-80 Gold in the 2nd quarter worth approximately $5,206,000. 61.31% of the stock is currently owned by institutional investors and hedge funds.

About i-80 Gold

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.