i-80 Gold (TSE:IAU) Trading 13.3% Higher – Here’s What Happened

i-80 Gold Corp. (TSE:IAU) shares were up 13.3% during mid-day trading on Tuesday . The stock traded as high as C$1.11 and last traded at C$1.11. Approximately 1,075,226 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 669,760 shares. The stock had previously closed at C$0.98.

Analyst Ratings Changes

Several equities research analysts have recently commented on IAU shares. Stifel Canada cut i-80 Gold from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, December 30th. Cormark raised i-80 Gold to a “hold” rating in a research note on Thursday, November 14th. Ventum Cap Mkts cut i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. National Bankshares raised i-80 Gold from a “sector perform” rating to an “outperform” rating and lowered their target price for the company from C$2.25 to C$1.75 in a research note on Thursday, January 9th. Finally, Cibc World Mkts cut i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$2.55.

i-80 Gold Trading Up 13.3 %

The company has a debt-to-equity ratio of 40.07, a current ratio of 0.33 and a quick ratio of 1.57. The business has a 50 day moving average of C$0.81 and a 200 day moving average of C$1.13. The firm has a market capitalization of C$296.67 million, a price-to-earnings ratio of -2.05 and a beta of 1.79.

i-80 Gold Company Profile

i-80 Gold Corp. is a Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of four new open pit and underground mining operations that will ultimately process ore at the Company’s central Lone Tree complex that includes an Autoclave. The Company’s primary goal is to build a self-sustaining, mid-tier, mining company with a peer-best growth platform by employing a methodical, capital disciplined and staged approach to minimize risk while also assessing and monitoring for accretive growth opportunities.