i-80 Gold (TSE:IAU) Trading 12.7% Higher Following Insider Buying Activity

i-80 Gold Corp. (TSE:IAU) shares were up 12.7% on Tuesday following insider buying activity. The stock traded as high as C$0.72 and last traded at C$0.71. Approximately 1,091,559 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 950,647 shares. The stock had previously closed at C$0.63.

Specifically, Director Richard Scott Young acquired 195,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price of C$0.64 per share, with a total value of C$124,800.00.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IAU. Cormark raised shares of i-80 Gold to a “hold” rating in a report on Thursday, November 14th. National Bank Financial lowered shares of i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Ventum Cap Mkts cut i-80 Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, i-80 Gold has an average rating of “Moderate Buy” and an average target price of C$3.90.

i-80 Gold Stock Up 22.2 %

The stock has a market cap of C$296.40 million, a price-to-earnings ratio of -1.97 and a beta of 1.79. The business’s 50 day moving average is C$1.41 and its 200-day moving average is C$1.44. The company has a debt-to-equity ratio of 38.47, a quick ratio of 1.57 and a current ratio of 0.54.

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.