i-80 Gold Corp. (NYSEAMERICAN:IAUX – Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 27,170,000 shares, an increase of 14.1% from the May 15th total of 23,820,000 shares. Approximately 7.8% of the shares of the stock are sold short. Based on an average trading volume of 4,220,000 shares, the days-to-cover ratio is presently 6.4 days.
Wall Street Analyst Weigh In
Separately, CIBC cut their target price on i-80 Gold from $5.00 to $4.25 and set an “outperformer” rating for the company in a research report on Tuesday, April 9th.
View Our Latest Report on IAUX
i-80 Gold Stock Down 1.0 %
i-80 Gold (NYSEAMERICAN:IAUX – Get Free Report) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.07) EPS for the quarter. The business 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%. Equities research analysts anticipate that i-80 Gold will post 0.05 EPS for the current year.
Institutional Trading of i-80 Gold
Institutional investors and hedge funds have recently modified their holdings of the business. Equinox Partners Investment Management LLC increased its position in i-80 Gold by 51.5% in the fourth quarter. Equinox Partners Investment Management LLC now owns 7,739,954 shares of the company’s stock worth $13,618,000 after buying an additional 2,631,954 shares during the last quarter. Bleakley Financial Group LLC increased its position in i-80 Gold by 466.6% in the fourth quarter. Bleakley Financial Group LLC now owns 182,321 shares of the company’s stock worth $321,000 after buying an additional 150,141 shares during the last quarter. Swiss National Bank increased its position in i-80 Gold by 3.0% in the third quarter. Swiss National Bank now owns 430,100 shares of the company’s stock worth $655,000 after buying an additional 12,700 shares during the last quarter. Wealthsource Partners LLC purchased a new stake in i-80 Gold in the fourth quarter worth $40,000. Finally, Simplicity Wealth LLC bought a new position in shares of i-80 Gold in the first quarter worth $153,000. 61.31% of the stock is owned by hedge funds and other institutional investors.
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.
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