i-80 Gold (NYSEAMERICAN:IAUX) Price Target Lowered to $3.50 at CIBC

i-80 Gold (NYSEAMERICAN:IAUX) had its price target cut by equities researchers at CIBC from $4.25 to $3.50 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperformer” rating on the stock. CIBC’s price objective points to a potential upside of 209.73% from the stock’s current price.

i-80 Gold Price Performance

Shares of NYSEAMERICAN:IAUX opened at $1.13 on Wednesday. i-80 Gold has a fifty-two week low of $0.96 and a fifty-two week high of $2.33. The company has a quick ratio of 0.17, a current ratio of 0.30 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $339.68 million, a price-to-earnings ratio of -4.91 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) EPS for the quarter. i-80 Gold had a negative net margin of 115.35% and a negative return on equity of 20.42%. The business had revenue of $8.41 million for the quarter. Research analysts expect that i-80 Gold will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On i-80 Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthsource Partners LLC purchased a new stake in i-80 Gold in the 4th quarter worth approximately $40,000. Bleakley Financial Group LLC increased its holdings in i-80 Gold by 466.6% in the 4th quarter. Bleakley Financial Group LLC now owns 182,321 shares of the company’s stock worth $321,000 after acquiring an additional 150,141 shares in the last quarter. Equinox Partners Investment Management LLC boosted its stake in i-80 Gold by 51.5% in the 4th quarter. Equinox Partners Investment Management LLC now owns 7,739,954 shares of the company’s stock worth $13,618,000 after purchasing an additional 2,631,954 shares during the period. Simplicity Solutions LLC boosted its stake in i-80 Gold by 466.6% in the 4th quarter. Simplicity Solutions LLC now owns 182,321 shares of the company’s stock worth $321,000 after purchasing an additional 150,141 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in i-80 Gold by 8.2% in the 4th quarter. Mackenzie Financial Corp now owns 98,295 shares of the company’s stock worth $173,000 after purchasing an additional 7,469 shares during the period. Hedge funds and other institutional investors own 61.31% of the company’s stock.

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.