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

i-80 Gold Corp. (NYSEAMERICAN:IAUX) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 25,750,000 shares, a drop of 5.2% from the May 31st total of 27,170,000 shares. Approximately 7.4% of the company’s shares are short sold. Based on an average daily trading volume, of 4,540,000 shares, the days-to-cover ratio is presently 5.7 days.

Analyst Ratings Changes

Separately, CIBC dropped their price objective on i-80 Gold from $5.00 to $4.25 and set an “outperformer” rating on the stock in a research note on Tuesday, April 9th.

Institutional Trading of i-80 Gold

Several large investors have recently made changes to their positions in IAUX. Equinox Partners Investment Management LLC increased its position in i-80 Gold by 51.5% during the 4th quarter. Equinox Partners Investment Management LLC now owns 7,739,954 shares of the company’s stock valued at $13,618,000 after purchasing an additional 2,631,954 shares during the period. Bleakley Financial Group LLC increased its stake in shares of i-80 Gold by 466.6% in the 4th quarter. Bleakley Financial Group LLC now owns 182,321 shares of the company’s stock valued at $321,000 after acquiring an additional 150,141 shares in the last quarter. Wealthsource Partners LLC acquired a new position in shares of i-80 Gold during the fourth quarter worth approximately $40,000. Simplicity Wealth LLC acquired a new position in shares of i-80 Gold during the first quarter valued at about $153,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in i-80 Gold in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 61.31% of the company’s stock.

i-80 Gold Trading Down 2.8 %

i-80 Gold stock opened at $1.03 on Wednesday. i-80 Gold has a 52 week low of $0.96 and a 52 week high of $2.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.30 and a quick ratio of 0.17. The stock has a market cap of $309.62 million, a P/E ratio of -4.48 and a beta of 1.42.

i-80 Gold (NYSEAMERICAN:IAUX) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $8.41 million during the quarter. i-80 Gold had a negative net margin of 115.35% and a negative return on equity of 20.42%. On average, sell-side analysts anticipate that i-80 Gold will post 0.05 earnings per share for the current year.

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.