JPMorgan Chase & Co. Boosts Holdings in i-80 Gold Corp. (NYSE:IAUX)

JPMorgan Chase & Co. raised its holdings in shares of i-80 Gold Corp. (NYSE:IAUX) by 27.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,953 shares of the company’s stock after buying an additional 31,315 shares during the period. JPMorgan Chase & Co.’s holdings in i-80 Gold were worth $170,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Murphy Pohlad Asset Management LLC raised its holdings in i-80 Gold by 240.0% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 51,000 shares of the company’s stock worth $59,000 after purchasing an additional 36,000 shares during the period. Intech Investment Management LLC purchased a new stake in i-80 Gold in the third quarter worth about $71,000. Creative Planning bought a new position in shares of i-80 Gold in the third quarter worth about $119,000. SG Americas Securities LLC lifted its position in shares of i-80 Gold by 142.7% during the 3rd quarter. SG Americas Securities LLC now owns 104,330 shares of the company’s stock valued at $121,000 after buying an additional 61,337 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of i-80 Gold by 857.1% during the 2nd quarter. Mackenzie Financial Corp now owns 116,368 shares of the company’s stock valued at $123,000 after acquiring an additional 104,210 shares during the period. Hedge funds and other institutional investors own 61.31% of the company’s stock.

i-80 Gold Stock Performance

Shares of NYSE IAUX opened at $0.57 on Friday. The company has a market cap of $232.48 million, a P/E ratio of -1.57 and a beta of 1.25. i-80 Gold Corp. has a 52-week low of $0.34 and a 52-week high of $1.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33. The company has a fifty day moving average of $0.56.

i-80 Gold (NYSE:IAUX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $11.51 million during the quarter. i-80 Gold had a negative return on equity of 21.18% and a negative net margin of 231.43%. As a group, analysts forecast that i-80 Gold Corp. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IAUX shares. Cibc World Mkts downgraded shares of i-80 Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 2nd. National Bank Financial upgraded shares of i-80 Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 8th. Ventum Cap Mkts cut i-80 Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Stifel Canada downgraded i-80 Gold from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, December 30th. Finally, Cormark upgraded i-80 Gold to a “hold” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

About i-80 Gold

i-80 Gold Corp. is a mining company, engages in the exploration, development and production of gold and silver mineral deposits principally in the United States. i-80 Gold Corp. is based in Reno, Nevada.