i-80 Gold (NYSE:IAUX) Hits New 1-Year High – Still a Buy?

i-80 Gold Corp. (NYSE:IAUX)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $1.96 and last traded at $2.0050, with a volume of 1281420 shares changing hands. The stock had previously closed at $1.88.

i-80 Gold Trading Down 0.5%

The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -5.53 and a beta of 1.18. 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 moving average price of $1.58 and a 200-day moving average price of $1.13.

Insider Activity

In other news, Director John William Seaman bought 20,000 shares of i-80 Gold stock in a transaction dated Tuesday, December 9th. The shares were acquired at an average cost of $1.30 per share, with a total value of $26,000.00. Following the completion of the transaction, the director owned 346,942 shares in the company, valued at approximately $451,024.60. This trade represents a 6.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 55,000 shares of company stock worth $62,150 in the last 90 days. Company insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On i-80 Gold

Several institutional investors and hedge funds have recently made changes to their positions in IAUX. J.W. Cole Advisors Inc. acquired a new stake in shares of i-80 Gold during the fourth quarter worth approximately $117,000. Cibc World Market Inc. boosted its stake in i-80 Gold by 35.6% during the 4th quarter. Cibc World Market Inc. now owns 827,138 shares of the company’s stock valued at $1,216,000 after acquiring an additional 217,342 shares during the last quarter. CIBC Asset Management Inc acquired a new position in i-80 Gold during the 4th quarter worth $135,000. Goldman Sachs Group Inc. grew its holdings in i-80 Gold by 68.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,161,339 shares of the company’s stock worth $7,536,000 after acquiring an additional 2,105,235 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of i-80 Gold in the 4th quarter worth about $762,000. 61.31% of the stock is currently owned by hedge funds and other institutional investors.

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.