General American Investors Co. Inc. Reduces Position in i-80 Gold Corp. $IAUX

General American Investors Co. Inc. decreased its holdings in shares of i-80 Gold Corp. (NYSE:IAUX) by 56.8% in the first quarter, HoldingsChannel reports. The fund owned 1,500,000 shares of the company’s stock after selling 1,974,389 shares during the quarter. General American Investors Co. Inc.’s holdings in i-80 Gold were worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of IAUX. Cypress Wealth Services LLC bought a new stake in i-80 Gold during the fourth quarter valued at about $25,000. Banco BTG Pactual S.A. bought a new position in shares of i-80 Gold in the second quarter worth about $25,000. State of Wisconsin Investment Board bought a new position in shares of i-80 Gold in the fourth quarter worth about $27,000. Deutsche Bank AG purchased a new position in shares of i-80 Gold during the 4th quarter valued at about $32,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of i-80 Gold by 19,522.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 64,167 shares of the company’s stock valued at $38,000 after acquiring an additional 63,840 shares during the period. 61.31% of the stock is owned by institutional investors.

Insider Transactions at i-80 Gold

In related news, Director John Arthur Begeman sold 24,356 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $1.59, for a total transaction of $38,726.04. Following the completion of the sale, the director owned 827,354 shares in the company, valued at approximately $1,315,492.86. This trade represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven W. Yopps bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $1.47 per share, for a total transaction of $73,500.00. Following the purchase, the director directly owned 50,000 shares in the company, valued at $73,500. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.42% of the company’s stock.

i-80 Gold Price Performance

IAUX stock traded down $0.04 during trading on Friday, reaching $1.40. The company’s stock had a trading volume of 8,089,584 shares, compared to its average volume of 13,055,450. i-80 Gold Corp. has a 1 year low of $0.55 and a 1 year high of $2.24. 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 company has a market capitalization of $1.21 billion, a P/E ratio of -3.89 and a beta of 1.15. The company’s fifty day moving average is $1.50 and its 200-day moving average is $1.61.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $2.60 target price on shares of i-80 Gold in a report on Tuesday, June 2nd.

About i-80 Gold

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.