i-80 Gold (TSE:IAU) Trading Down 8.4% – Should You Sell?

i-80 Gold Corp. (TSE:IAU)’s share price fell 8.4% during trading on Friday . The stock traded as low as C$0.68 and last traded at C$0.76. 2,368,607 shares changed hands during mid-day trading, an increase of 249% from the average session volume of 678,744 shares. The stock had previously closed at C$0.83.

Wall Street Analyst Weigh In

Separately, Cormark upgraded shares of i-80 Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, i-80 Gold presently has an average rating of “Moderate Buy” and an average target price of C$2.55.

i-80 Gold Price Performance

The business has a 50-day simple moving average of C$0.88 and a 200 day simple moving average of C$0.92. The firm has a market cap of C$203.13 million, a P/E ratio of -1.40 and a beta of 1.79. The company has a debt-to-equity ratio of 40.07, a quick ratio of 1.57 and a current ratio of 0.33.

i-80 Gold Company Profile

i-80 Gold Corp. is a Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of four new open pit and underground mining operations that will ultimately process ore at the Company’s central Lone Tree complex that includes an Autoclave. The Company’s primary goal is to build a self-sustaining, mid-tier, mining company with a peer-best growth platform by employing a methodical, capital disciplined and staged approach to minimize risk while also assessing and monitoring for accretive growth opportunities.