i-80 Gold (NYSE:IAUX) Sets New 52-Week High – Should You Buy?

Shares of i-80 Gold Corp. (NYSE:IAUX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $1.73 and last traded at $1.7350, with a volume of 2252820 shares traded. The stock had previously closed at $1.60.

i-80 Gold Trading Up 9.7%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33. The stock has a 50-day moving average price of $1.34 and a 200-day moving average price of $1.00. The stock has a market cap of $1.41 billion, a P/E ratio of -4.87 and a beta of 1.18.

Insider Buying and Selling

In other i-80 Gold news, Director John William Seaman purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were purchased at an average cost of $1.03 per share, with a total value of $30,900.00. Following the completion of the purchase, the director owned 326,942 shares of the company’s stock, valued at $336,750.26. The trade was a 10.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 55,000 shares of company stock worth $62,150 in the last quarter. 2.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On i-80 Gold

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new position in shares of i-80 Gold in the third quarter worth approximately $22,877,000. Pale Fire Capital SE grew its holdings in i-80 Gold by 25.2% in the 2nd quarter. Pale Fire Capital SE now owns 21,263,656 shares of the company’s stock worth $12,724,000 after acquiring an additional 4,282,561 shares during the last quarter. Equinox Partners Investment Management LLC purchased a new position in shares of i-80 Gold in the second quarter valued at about $6,909,000. Trek Financial LLC raised its stake in shares of i-80 Gold by 4.7% during the third quarter. Trek Financial LLC now owns 11,173,852 shares of the company’s stock valued at $10,675,000 after acquiring an additional 504,035 shares during the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in shares of i-80 Gold during the second quarter worth about $6,503,000. 61.31% of the stock is currently owned by hedge funds and other institutional investors.

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.