i-80 Gold (NYSE:IAUX) Hits New 52-Week High – What’s Next?

i-80 Gold Corp. (NYSE:IAUX) hit a new 52-week high on Monday . The stock traded as high as $1.96 and last traded at $2.0050, with a volume of 1281420 shares. The stock had previously closed at $1.88.

i-80 Gold Trading Up 6.6%

The stock has a market capitalization of $1.66 billion, a P/E ratio of -5.57 and a beta of 1.18. The company has a quick ratio of 0.22, a current ratio of 0.33 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $1.55 and its 200-day moving average price is $1.11.

Insider Buying and Selling

In related news, Director John William Seaman acquired 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, for a total transaction of $26,000.00. Following the transaction, the director owned 346,942 shares in the company, valued at approximately $451,024.60. This trade represents a 6.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 55,000 shares of company stock valued at $62,150 in the last 90 days. 2.08% of the stock is owned by corporate insiders.

Institutional Trading of i-80 Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in i-80 Gold by 1,345.4% in the 1st quarter. AQR Capital Management LLC now owns 195,706 shares of the company’s stock valued at $114,000 after purchasing an additional 182,166 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in i-80 Gold by 40.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,436,918 shares of the company’s stock valued at $2,000,000 after purchasing an additional 987,083 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of i-80 Gold by 257.6% during the second quarter. Wealthcare Advisory Partners LLC now owns 67,018 shares of the company’s stock worth $40,000 after purchasing an additional 48,279 shares during the last quarter. TD Asset Management Inc increased its position in i-80 Gold by 131.6% during the second quarter. TD Asset Management Inc now owns 1,022,947 shares of the company’s stock worth $630,000 after buying an additional 581,200 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in i-80 Gold in the 2nd quarter valued at $127,000. Institutional investors and hedge funds own 61.31% of the company’s stock.

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.