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

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on IAU shares. Cormark raised i-80 Gold to a “hold” rating in a report on Thursday, November 14th. Cibc World Mkts lowered i-80 Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 2nd. 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 report on Thursday, January 9th. Royal Bank of Canada lowered their target price on i-80 Gold from C$3.00 to C$2.00 in a report on Friday, December 6th. Finally, Ventum Cap Mkts lowered i-80 Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$2.55.

i-80 Gold Price Performance

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

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.