Flat Footed LLC Invests $2.60 Billion in i-80 Gold Corp. $IAUX

Flat Footed LLC bought a new stake in shares of i-80 Gold Corp. (NYSE:IAUX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,807,864 shares of the company’s stock, valued at approximately $2,603,324,000. i-80 Gold comprises 0.2% of Flat Footed LLC’s investment portfolio, making the stock its 16th largest holding.

A number of other institutional investors have also recently bought and sold shares of the stock. Rathbones Group PLC lifted its stake in i-80 Gold by 5.1% during the fourth quarter. Rathbones Group PLC now owns 123,740 shares of the company’s stock valued at $181,000 after buying an additional 6,000 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in i-80 Gold by 49.5% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,420 shares of the company’s stock worth $32,000 after acquiring an additional 7,420 shares during the period. Bank of Montreal Can grew its stake in i-80 Gold by 1.1% during the 4th quarter. Bank of Montreal Can now owns 841,225 shares of the company’s stock valued at $1,238,000 after acquiring an additional 9,175 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of i-80 Gold by 4.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 246,655 shares of the company’s stock valued at $360,000 after purchasing an additional 10,518 shares during the period. Finally, LPL Financial LLC lifted its position in shares of i-80 Gold by 3.1% in the fourth quarter. LPL Financial LLC now owns 429,440 shares of the company’s stock worth $627,000 after purchasing an additional 13,000 shares in the last quarter. Hedge funds and other institutional investors own 61.31% of the company’s stock.

i-80 Gold Stock Performance

Shares of NYSE IAUX opened at $1.92 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.33 and a quick ratio of 0.22. i-80 Gold Corp. has a one year low of $0.74 and a one year high of $2.24. The business’s 50-day moving average price is $1.48 and its two-hundred day moving average price is $1.58. The company has a market capitalization of $1.66 billion, a P/E ratio of -5.33 and a beta of 1.17.

Wall Street Analyst Weigh In

Separately, UBS Group set a $2.60 price objective on shares of i-80 Gold in a research report on Tuesday, June 2nd.

Insider Activity

In related news, Director John Arthur Begeman sold 24,356 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $1.59, for a total value of $38,726.04. Following the completion of the sale, the director owned 827,354 shares of the company’s stock, valued at approximately $1,315,492.86. The trade was a 2.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.42% of the stock is currently owned by corporate insiders.

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.