i-80 Gold Corp. (NYSE:IAUX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of i-80 Gold Corp. (NYSE:IAUX) have received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $2.17.

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of i-80 Gold from $2.00 to $1.50 and set an “outperform” rating for the company in a research note on Monday, June 2nd. Cormark upgraded i-80 Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. Scotiabank decreased their price objective on i-80 Gold from $2.25 to $1.50 and set a “sector outperform” rating for the company in a report on Monday, June 2nd. Finally, National Bankshares restated an “outperform” rating on shares of i-80 Gold in a report on Wednesday, April 2nd.

i-80 Gold Stock Up 0.6%

Shares of IAUX opened at $0.60 on Friday. The firm has a market capitalization of $476.26 million, a P/E ratio of -1.68 and a beta of 1.10. i-80 Gold has a 12-month low of $0.34 and a 12-month high of $1.26. 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 firm has a fifty day moving average price of $0.56 and a 200-day moving average price of $0.60.

Hedge Funds Weigh In On i-80 Gold

A number of large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in i-80 Gold by 5.7% in the first quarter. Rhumbline Advisers now owns 393,756 shares of the company’s stock worth $229,000 after purchasing an additional 21,182 shares in the last quarter. Goldman Sachs Group Inc. raised 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 worth $2,000,000 after purchasing an additional 987,083 shares in the last quarter. AQR Capital Management LLC raised its holdings in i-80 Gold by 1,345.4% in the first quarter. AQR Capital Management LLC now owns 195,706 shares of the company’s stock worth $114,000 after purchasing an additional 182,166 shares in the last quarter. MetLife Investment Management LLC raised its holdings in i-80 Gold by 76.8% in the first quarter. MetLife Investment Management LLC now owns 160,403 shares of the company’s stock worth $93,000 after purchasing an additional 69,655 shares in the last quarter. Finally, Pale Fire Capital SE raised its holdings in i-80 Gold by 66.8% in the first quarter. Pale Fire Capital SE now owns 16,981,095 shares of the company’s stock worth $9,880,000 after purchasing an additional 6,801,325 shares in the last quarter. 61.31% of the stock is currently owned by institutional investors.

About i-80 Gold

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.