i-80 Gold Corp. (NYSEAMERICAN:IAUX) Short Interest Up 14.1% in May

i-80 Gold Corp. (NYSEAMERICAN:IAUX) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 27,170,000 shares, a growth of 14.1% from the May 15th total of 23,820,000 shares. Currently, 7.8% of the company’s shares are sold short. Based on an average daily volume of 4,220,000 shares, the days-to-cover ratio is currently 6.4 days.

Institutional Trading of i-80 Gold

Several hedge funds have recently modified their holdings of IAUX. Tidal Investments LLC bought a new position in i-80 Gold during the 1st quarter valued at about $10,746,000. Equinox Partners Investment Management LLC boosted its holdings in i-80 Gold by 51.5% during the 4th quarter. Equinox Partners Investment Management LLC now owns 7,739,954 shares of the company’s stock valued at $13,618,000 after acquiring an additional 2,631,954 shares during the period. Van ECK Associates Corp grew its position in i-80 Gold by 8.2% in the 4th quarter. Van ECK Associates Corp now owns 10,901,905 shares of the company’s stock valued at $19,187,000 after acquiring an additional 828,832 shares during the last quarter. Sprott Inc. increased its stake in i-80 Gold by 1.4% in the third quarter. Sprott Inc. now owns 23,028,417 shares of the company’s stock worth $35,664,000 after purchasing an additional 325,811 shares during the period. Finally, Virtu Financial LLC lifted its position in shares of i-80 Gold by 1,365.7% during the first quarter. Virtu Financial LLC now owns 203,962 shares of the company’s stock worth $273,000 after purchasing an additional 190,046 shares during the last quarter. 61.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, CIBC lowered their target price on shares of i-80 Gold from $5.00 to $4.25 and set an “outperformer” rating for the company in a report on Tuesday, April 9th.

i-80 Gold Stock Performance

NYSEAMERICAN IAUX remained flat at $1.05 on Tuesday. The company had a trading volume of 618,609 shares, compared to its average volume of 3,364,308. The company has a current ratio of 0.30, a quick ratio of 0.17 and a debt-to-equity ratio of 0.21. i-80 Gold has a 12 month low of $1.01 and a 12 month high of $2.33.

i-80 Gold (NYSEAMERICAN:IAUX) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.07) EPS for the quarter. The firm had revenue of $8.41 million for the quarter. i-80 Gold had a negative net margin of 115.35% and a negative return on equity of 20.42%. As a group, equities research analysts predict that i-80 Gold will post 0.05 earnings per share for the current fiscal year.

i-80 Gold Company Profile

i-80 Gold Corp., a mining company, explores for, develops, and produces gold, silver, and polymetallic deposits in the United States. The Company's principal assets are the McCoy-Cove gold properties located in Lander County, Nevada; the Granite Creek gold project located in Humboldt County, Nevada; the Lone Tree project located within the Battle Mountain-Eureka Trend, Nevada; and the Ruby Hill mine in Eureka County, Nevada.