Freedom Broker Issues Positive Forecast for i-80 Gold (NYSE:IAUX) Stock Price

i-80 Gold (NYSE:IAUX) had its target price boosted by research analysts at Freedom Broker from $2.80 to $2.90 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Freedom Broker‘s price target indicates a potential upside of 100.00% from the company’s previous close.

i-80 Gold Trading Down 3.3%

NYSE:IAUX traded down $0.05 during mid-day trading on Thursday, hitting $1.45. 10,797,091 shares of the stock traded hands, compared to its average volume of 11,687,599. 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 has a 52 week low of $0.89 and a 52 week high of $2.24. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -4.03 and a beta of 1.23. The firm’s 50 day moving average is $1.69 and its two-hundred day moving average is $1.57.

Insider Activity at i-80 Gold

In other i-80 Gold news, Director John Begeman sold 19,231 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $1.74, for a total transaction of $33,461.94. Following the transaction, the director directly owned 827,354 shares in the company, valued at $1,439,595.96. This represents a 2.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On i-80 Gold

A number of large investors have recently added to or reduced their stakes in the company. Pale Fire Capital SE raised its stake in shares of i-80 Gold by 0.8% during the 1st quarter. Pale Fire Capital SE now owns 20,843,056 shares of the company’s stock worth $31,681,000 after acquiring an additional 174,741 shares in the last quarter. Tidal Investments LLC lifted its position in i-80 Gold by 123.1% during the second quarter. Tidal Investments LLC now owns 18,662,686 shares of the company’s stock valued at $26,874,000 after acquiring an additional 10,298,143 shares during the last quarter. JGP Global Gestao de Recursos Ltda. purchased a new stake in i-80 Gold during the third quarter valued at approximately $9,960,000. Groupe la Francaise boosted 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 in the last quarter. Finally, BlackRock Inc. acquired a new stake in i-80 Gold in the second quarter valued at approximately $6,868,000. 61.31% of the stock is currently owned by institutional investors.

About i-80 Gold

i-80 Gold Corp. is a Canada-based mining company focused on the exploration, development and potential production of gold and other precious metals in Nevada. The company’s portfolio includes several advanced-stage projects and processing facilities in one of the world’s major gold-producing regions.

Its principal assets include the Ruby Hill, Granite Creek, McCoy-Cove and Lone Tree properties. These projects contain gold resources as well as opportunities for additional exploration and development.