NewGen Asset Management Ltd Purchases New Shares in i-80 Gold Corp. (NYSE:IAUX)

NewGen Asset Management Ltd purchased a new stake in i-80 Gold Corp. (NYSE:IAUX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,950,000 shares of the company’s stock, valued at approximately $1,415,000. i-80 Gold comprises 1.3% of NewGen Asset Management Ltd’s holdings, making the stock its 22nd biggest holding. NewGen Asset Management Ltd owned about 0.67% of i-80 Gold at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Maia Wealth LLC acquired a new position in shares of i-80 Gold in the 4th quarter valued at $34,000. McAdam LLC raised its stake in shares of i-80 Gold by 388.5% during the 4th quarter. McAdam LLC now owns 64,747 shares of the company’s stock worth $31,000 after purchasing an additional 51,493 shares in the last quarter. Kohmann Bosshard Financial Services LLC increased its position in i-80 Gold by 490.9% during the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 65,000 shares of the company’s stock worth $32,000 after buying an additional 54,000 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of i-80 Gold during the 4th quarter worth about $46,000. Finally, Stratos Wealth Advisors LLC bought a new position in i-80 Gold during the 4th quarter worth $48,000. Institutional investors own 61.31% of the company’s stock.

i-80 Gold Price Performance

Shares of i-80 Gold stock opened at $0.63 on Friday. The company’s fifty day simple moving average is $0.65. The company has a current ratio of 0.33, a quick ratio of 0.22 and a debt-to-equity ratio of 0.19. i-80 Gold Corp. has a 1 year low of $0.34 and a 1 year high of $1.44. The stock has a market cap of $280.42 million, a price-to-earnings ratio of -1.76 and a beta of 1.26.

Analysts Set New Price Targets

Several equities analysts have recently commented on IAUX shares. Stifel Canada cut shares of i-80 Gold from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, December 30th. Cormark raised i-80 Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. National Bank Financial upgraded shares of i-80 Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 8th. Finally, National Bankshares restated an “outperform” rating on shares of i-80 Gold in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

i-80 Gold Company Profile

i-80 Gold Corp. is a mining company, engages in the exploration, development and production of gold and silver mineral deposits principally in the United States. i-80 Gold Corp. is based in Reno, Nevada.