Renaissance Technologies LLC Purchases Shares of 2,140,581 i-80 Gold Corp. $IAUX

Renaissance Technologies LLC bought a new position in shares of i-80 Gold Corp. (NYSE:IAUX) in the first quarter, HoldingsChannel reports. The institutional investor bought 2,140,581 shares of the company’s stock, valued at approximately $3,254,000.

Several other hedge funds have also added to or reduced their stakes in IAUX. AQR Capital Management LLC lifted its holdings in shares of i-80 Gold by 1,345.4% during the first quarter. AQR Capital Management LLC now owns 195,706 shares of the company’s stock worth $114,000 after buying an additional 182,166 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of i-80 Gold by 40.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,436,918 shares of the company’s stock valued at $2,000,000 after buying an additional 987,083 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of i-80 Gold during the 2nd quarter worth approximately $71,000. EverSource Wealth Advisors LLC lifted its holdings in shares of i-80 Gold by 19,522.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 64,167 shares of the company’s stock worth $38,000 after acquiring an additional 63,840 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of i-80 Gold during the 2nd quarter worth approximately $62,000. 61.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at i-80 Gold

In other news, Director John Arthur Begeman sold 24,356 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $1.59, for a total value of $38,726.04. Following the completion of the transaction, the director owned 827,354 shares of the company’s stock, valued at approximately $1,315,492.86. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Yopps purchased 50,000 shares of i-80 Gold stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director owned 50,000 shares in the company, valued at $73,500. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.42% of the company’s stock.

i-80 Gold Price Performance

Shares of IAUX stock opened at $1.62 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.33 and a debt-to-equity ratio of 0.19. i-80 Gold Corp. has a twelve month low of $0.57 and a twelve month high of $2.24. The company has a market cap of $1.40 billion, a P/E ratio of -4.50 and a beta of 1.17. The business has a fifty day simple moving average of $1.43 and a 200 day simple moving average of $1.59.

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.