i-80 Gold (NYSE:IAUX) Sets New 52-Week High – Time to Buy?

i-80 Gold Corp. (NYSE:IAUX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $1.60 and last traded at $1.6050, with a volume of 1089150 shares changing hands. The stock had previously closed at $1.50.

i-80 Gold Stock Up 5.0%

The stock’s 50-day simple moving average is $1.26 and its 200-day simple moving average is $0.96. The firm has a market capitalization of $1.26 billion, a P/E ratio of -4.37 and a beta of 1.18. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19.

Insider Activity at i-80 Gold

In other i-80 Gold news, Director John William Seaman bought 20,000 shares of the stock in a transaction on Tuesday, December 9th. The shares were acquired at an average price of $1.30 per share, with a total value of $26,000.00. Following the acquisition, the director directly owned 346,942 shares of the company’s stock, valued at $451,024.60. The trade was a 6.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 55,000 shares of company stock worth $62,150. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On i-80 Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of i-80 Gold in the 3rd quarter worth approximately $22,877,000. Pale Fire Capital SE boosted its stake in i-80 Gold by 25.2% in the second quarter. Pale Fire Capital SE now owns 21,263,656 shares of the company’s stock valued at $12,724,000 after acquiring an additional 4,282,561 shares in the last quarter. Equinox Partners Investment Management LLC purchased a new position in i-80 Gold in the second quarter worth $6,909,000. Trek Financial LLC grew its holdings in i-80 Gold by 4.7% in the third quarter. Trek Financial LLC now owns 11,173,852 shares of the company’s stock worth $10,675,000 after purchasing an additional 504,035 shares during the last quarter. Finally, Monaco Asset Management SAM acquired a new position in shares of i-80 Gold during the second quarter worth $6,503,000. 61.31% of the stock is currently owned by institutional investors.

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.