i-80 Gold (NYSE:IAUX) Reaches New 12-Month High – Time to Buy?

i-80 Gold Corp. (NYSE:IAUX) shares hit a new 52-week high on Monday . The company traded as high as $1.9097 and last traded at $1.9030, with a volume of 1097526 shares. The stock had previously closed at $1.81.

i-80 Gold Price Performance

The firm’s 50 day simple moving average is $1.43 and its two-hundred day simple moving average is $1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22. The firm has a market capitalization of $1.53 billion, a P/E ratio of -5.28 and a beta of 1.18.

Insiders Place Their Bets

In related news, Director John William Seaman acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average price of $1.30 per share, with a total value of $26,000.00. Following the completion of the purchase, the director owned 346,942 shares in the company, valued at $451,024.60. This trade represents a 6.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 55,000 shares of company stock valued at $62,150 in the last ninety days. Insiders own 2.08% of the company’s stock.

Institutional Trading of i-80 Gold

A number of hedge funds have recently modified their holdings of IAUX. Bank of Montreal Can grew its stake in shares of i-80 Gold by 92.2% in the second quarter. Bank of Montreal Can now owns 665,813 shares of the company’s stock worth $411,000 after acquiring an additional 319,394 shares during the last quarter. Monaco Asset Management SAM bought a new position in i-80 Gold in the 2nd quarter worth about $6,503,000. NewGen Equity Long Short Fund bought a new position in i-80 Gold in the 2nd quarter worth about $5,206,000. Forge First Asset Management Inc. purchased a new stake in i-80 Gold during the 2nd quarter valued at about $4,871,000. Finally, NewGen Asset Management Ltd purchased a new position in i-80 Gold in the second quarter worth about $5,206,000. Institutional investors own 61.31% of the company’s stock.

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.