The Manufacturers Life Insurance Company Invests $1.14 Million in i-80 Gold Corp. $IAUX

The Manufacturers Life Insurance Company acquired a new position in shares of i-80 Gold Corp. (NYSE:IAUX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 784,704 shares of the company’s stock, valued at approximately $1,137,000.

A number of other hedge funds have also bought and sold shares of the business. Renaissance Technologies LLC bought a new position in shares of i-80 Gold during the first quarter worth approximately $3,254,000. McAlvany Wealth Management LLC bought a new stake in shares of i-80 Gold during the 1st quarter worth approximately $3,536,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of i-80 Gold during the 2nd quarter worth approximately $1,537,000. Groupe la Francaise increased its stake in i-80 Gold by 66.7% in the first quarter. Groupe la Francaise now owns 5,500,000 shares of the company’s stock valued at $8,315,000 after acquiring an additional 2,200,000 shares during the last quarter. Finally, Bank of America Corp DE raised its position in i-80 Gold by 214.8% during the first quarter. Bank of America Corp DE now owns 2,086,685 shares of the company’s stock valued at $3,172,000 after purchasing an additional 1,423,909 shares in the last quarter. 61.31% of the stock is owned by institutional investors.

i-80 Gold Price Performance

NYSE:IAUX opened at $1.79 on Friday. The company has a market cap of $1.55 billion, a PE ratio of -4.97 and a beta of 1.22. The firm’s 50 day simple moving average is $1.54 and its 200 day simple moving average is $1.58. 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 $0.79 and a one year high of $2.24.

Insider Activity at i-80 Gold

In other i-80 Gold news, Director John Begeman sold 19,231 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $1.74, for a total value of $33,461.94. Following the sale, the director owned 827,354 shares in the company, valued at approximately $1,439,595.96. The trade was a 2.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.42% of the company’s stock.

Wall Street Analyst Weigh In

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

i-80 Gold 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.