i-80 Gold (NYSE:IAUX) Stock Price Down 7.8% – Here’s What Happened

i-80 Gold Corp. (NYSE:IAUX)’s stock price was down 7.8% on Wednesday. The stock traded as low as $1.4650 and last traded at $1.4850. Approximately 11,784,926 shares were traded during mid-day trading, a decline of 1% from the average session volume of 11,935,056 shares. The stock had previously closed at $1.61.

i-80 Gold Stock Performance

The business’s fifty day moving average is $1.69 and its 200-day moving average is $1.56. 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 cap of $1.38 billion, a PE ratio of -4.40 and a beta of 1.23.

Insider Buying and Selling at i-80 Gold

In other news, Director John Begeman sold 19,231 shares of i-80 Gold stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $1.74, for a total transaction of $33,461.94. Following the transaction, the director owned 827,354 shares in the company, valued at $1,439,595.96. This trade represents a 2.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On i-80 Gold

A number of institutional investors have recently bought and sold shares of IAUX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of i-80 Gold by 172,838.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 838,752 shares of the company’s stock worth $1,208,000 after purchasing an additional 838,267 shares during the period. Renaissance Technologies LLC purchased a new position in shares of i-80 Gold during the 1st quarter valued at $3,254,000. The Manufacturers Life Insurance Company purchased a new position in shares of i-80 Gold during the 1st quarter valued at $1,132,000. McAlvany Wealth Management LLC purchased a new stake in i-80 Gold in the 1st quarter worth $3,536,000. Finally, Legal & General Group Plc purchased a new stake in i-80 Gold in the 2nd quarter worth $4,810,000. 61.31% of the stock is owned by institutional investors.

About i-80 Gold

i-80 Gold Corp. is a Canadian mining company focused on the exploration, development and production of gold and other precious metals in Nevada. The company’s portfolio includes advanced-stage projects and exploration properties located within established gold-producing trends in the state.

Its principal assets include the Ruby Hill, Granite Creek, McCoy-Cove and Lone Tree projects. These properties contain underground and open-pit mineralization, while the company is also evaluating processing and infrastructure options intended to support future production.