National Bank Financial Predicts i-80 Gold FY2024 Earnings

i-80 Gold Corp. (TSE:IAU) – National Bank Financial lowered their FY2024 earnings estimates for i-80 Gold in a note issued to investors on Wednesday, January 8th. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings per share of ($0.35) for the year, down from their prior estimate of ($0.29). National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for i-80 Gold’s current full-year earnings is $0.03 per share.

Several other analysts have also recently commented on the company. National Bankshares raised i-80 Gold from a “sector perform” rating to an “outperform” rating and reduced their price target for the company from C$2.25 to C$1.75 in a report on Thursday. Stifel Canada downgraded shares of i-80 Gold from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, December 30th. Ventum Cap Mkts cut shares of i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Cormark raised shares of i-80 Gold to a “hold” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reduced their price target on i-80 Gold from C$3.00 to C$2.00 in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, i-80 Gold currently has an average rating of “Moderate Buy” and an average target price of C$2.55.

i-80 Gold Price Performance

Shares of TSE IAU opened at C$0.83 on Monday. i-80 Gold has a 1-year low of C$0.47 and a 1-year high of C$2.40. The company has a debt-to-equity ratio of 38.47, a current ratio of 0.54 and a quick ratio of 1.57. The stock has a fifty day moving average price of C$0.88 and a 200 day moving average price of C$1.25. The company has a market cap of C$319.50 million, a PE ratio of -2.13 and a beta of 1.79.

Insider Activity

In related news, Director Richard Scott Young purchased 195,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of C$0.64 per share, for a total transaction of C$124,800.00. Insiders purchased 285,150 shares of company stock valued at $184,581 in the last ninety days. Company insiders own 2.43% of the company’s stock.

About i-80 Gold

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.