i-80 Gold (NYSE:IAUX) Shares Gap Down – Time to Sell?

i-80 Gold Corp. (NYSE:IAUX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.62, but opened at $1.48. i-80 Gold shares last traded at $1.4450, with a volume of 13,662,753 shares trading hands.

i-80 Gold Stock Performance

The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.67 and a beta of 1.09. The firm’s fifty day moving average price is $1.79 and its 200 day moving average price is $1.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rathbones Group PLC grew its stake in shares of i-80 Gold by 5.1% in the fourth quarter. Rathbones Group PLC now owns 123,740 shares of the company’s stock valued at $181,000 after buying an additional 6,000 shares in the last quarter. Bank of Montreal Can boosted its holdings in i-80 Gold by 1.1% during the 4th quarter. Bank of Montreal Can now owns 841,225 shares of the company’s stock valued at $1,238,000 after acquiring an additional 9,175 shares during the period. Commonwealth Equity Services LLC boosted its holdings in i-80 Gold by 4.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 246,655 shares of the company’s stock valued at $360,000 after acquiring an additional 10,518 shares during the period. Murphy Pohlad Asset Management LLC grew its position in i-80 Gold by 6.4% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 198,800 shares of the company’s stock valued at $190,000 after acquiring an additional 12,000 shares in the last quarter. Finally, LPL Financial LLC grew its position in i-80 Gold by 3.1% in the 4th quarter. LPL Financial LLC now owns 429,440 shares of the company’s stock valued at $627,000 after acquiring an additional 13,000 shares in the last quarter. 61.31% of the stock is currently owned by hedge funds and other 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.