i-80 Gold (NYSE:IAUX) Sees Strong Trading Volume – Still a Buy?

i-80 Gold Corp. (NYSE:IAUX) saw strong trading volume on Monday . 23,267,795 shares traded hands during trading, an increase of 66% from the previous session’s volume of 14,004,230 shares.The stock last traded at $1.6450 and had previously closed at $1.66.

i-80 Gold Stock Performance

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -4.74 and a beta of 1.25. The firm’s 50-day moving average is $1.74 and its two-hundred day moving average is $1.41. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paragon Associates & Paragon Associates II Joint Venture purchased a new position in shares of i-80 Gold in the third quarter worth about $1,440,000. Hohimer Wealth Management LLC purchased a new position in i-80 Gold in the 3rd quarter worth approximately $1,722,000. NewGen Asset Management Ltd acquired a new position in shares of i-80 Gold during the 2nd quarter worth approximately $5,206,000. Castleview Partners LLC purchased a new stake in shares of i-80 Gold in the fourth quarter valued at approximately $1,189,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in i-80 Gold during the third quarter worth approximately $955,000. Hedge funds and other institutional investors own 61.31% of the company’s stock.

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.