i-80 Gold Corp. (NYSEAMERICAN:IAUX) Sees Significant Increase in Short Interest

i-80 Gold Corp. (NYSEAMERICAN:IAUX) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 28,760,000 shares, a growth of 5.5% from the September 15th total of 27,250,000 shares. Currently, 8.1% of the company’s shares are sold short. Based on an average daily trading volume, of 4,650,000 shares, the days-to-cover ratio is presently 6.2 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IAUX. Norden Group LLC acquired a new position in i-80 Gold in the first quarter valued at approximately $43,000. SG Americas Securities LLC lifted its stake in shares of i-80 Gold by 271.7% in the 2nd quarter. SG Americas Securities LLC now owns 42,993 shares of the company’s stock valued at $46,000 after purchasing an additional 31,425 shares during the period. Catalina Capital Group LLC boosted its holdings in i-80 Gold by 265.7% during the first quarter. Catalina Capital Group LLC now owns 44,145 shares of the company’s stock worth $59,000 after buying an additional 32,075 shares in the last quarter. Rathbones Group PLC acquired a new stake in i-80 Gold during the second quarter valued at $47,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in i-80 Gold by 28.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 58,013 shares of the company’s stock valued at $78,000 after buying an additional 12,737 shares in the last quarter. Hedge funds and other institutional investors own 61.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IAUX. CIBC reduced their price target on i-80 Gold from $4.25 to $3.50 and set an “outperformer” rating on the stock in a report on Wednesday, July 10th. National Bank Financial lowered i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

i-80 Gold Price Performance

Shares of NYSEAMERICAN IAUX opened at $1.13 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.54 and a quick ratio of 0.44. i-80 Gold has a fifty-two week low of $0.76 and a fifty-two week high of $1.88. The stock has a market capitalization of $339.68 million, a price-to-earnings ratio of -4.15 and a beta of 1.43.

i-80 Gold (NYSEAMERICAN:IAUX) last issued its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $7.18 million during the quarter. i-80 Gold had a negative return on equity of 21.06% and a negative net margin of 162.24%. As a group, equities research analysts forecast that i-80 Gold will post -0.03 earnings per share for the current fiscal year.

About i-80 Gold

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.