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

i-80 Gold Corp. (NYSEAMERICAN:IAUX) was the recipient of 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 volume of 4,650,000 shares, the days-to-cover ratio is currently 6.2 days.

i-80 Gold Stock Performance

NYSEAMERICAN IAUX traded down $0.01 on Wednesday, hitting $1.11. 4,985,992 shares of the company’s stock traded hands, compared to its average volume of 3,856,103. The stock has a market cap of $333.67 million, a price-to-earnings ratio of -4.15 and a beta of 1.43. The company has a current ratio of 0.54, a quick ratio of 0.44 and a debt-to-equity ratio of 0.19. i-80 Gold has a 1-year low of $0.76 and a 1-year high of $1.88.

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

Institutional Trading of i-80 Gold

Several institutional investors have recently bought and sold shares of IAUX. Creative Planning purchased a new position in shares of i-80 Gold in the third quarter valued at approximately $119,000. SG Americas Securities LLC lifted its holdings in i-80 Gold by 142.7% in the 3rd quarter. SG Americas Securities LLC now owns 104,330 shares of the company’s stock valued at $121,000 after purchasing an additional 61,337 shares in the last quarter. Mackenzie Financial Corp boosted its stake in i-80 Gold by 857.1% during the 2nd quarter. Mackenzie Financial Corp now owns 116,368 shares of the company’s stock worth $123,000 after purchasing an additional 104,210 shares during the last quarter. Pekin Hardy Strauss Inc. grew its holdings in shares of i-80 Gold by 383.0% during the second quarter. Pekin Hardy Strauss Inc. now owns 256,000 shares of the company’s stock worth $269,000 after buying an additional 203,000 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of i-80 Gold during the second quarter worth $1,401,000. 61.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IAUX. CIBC dropped their target price on shares of 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 downgraded shares of i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

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.