i-80 Gold (TSE:IAU) Shares Up 11.3% – Should You Buy?

i-80 Gold Corp. (TSE:IAU) rose 11.3% during mid-day trading on Tuesday . The company traded as high as C$1.08 and last traded at C$1.08. Approximately 1,663,735 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 993,425 shares. The stock had previously closed at C$0.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IAU shares. Ventum Cap Mkts cut shares of i-80 Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Cormark raised i-80 Gold to a “hold” rating in a research report on Thursday, November 14th. Finally, National Bank Financial downgraded i-80 Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, i-80 Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.90.

i-80 Gold Stock Performance

The company has a 50 day moving average price of C$1.36 and a 200 day moving average price of C$1.42. The company has a debt-to-equity ratio of 38.47, a quick ratio of 1.57 and a current ratio of 0.54. The company has a market capitalization of C$396.49 million, a price-to-earnings ratio of -2.74 and a beta of 1.79.

Insider Transactions at i-80 Gold

In other news, Director Richard Scott Young bought 195,000 shares of i-80 Gold stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of C$0.64 per share, for a total transaction of C$124,800.00. Insiders have bought 269,150 shares of company stock valued at $170,621 over the last ninety days. 2.43% of the stock is owned by company insiders.

About i-80 Gold

i-80 Gold Corp., a mining company, explores for, develops, and produces gold, silver, and polymetallic deposits in the United States. The Company's principal assets are the McCoy-Cove gold properties located in Lander County, Nevada; the Granite Creek gold project located in Humboldt County, Nevada; the Lone Tree project located within the Battle Mountain-Eureka Trend, Nevada; and the Ruby Hill mine in Eureka County, Nevada.