i-80 Gold (TSE:IAU) Shares Up 12.7% After Insider Buying Activity

i-80 Gold Corp. (TSE:IAU)’s stock price shot up 12.7% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as C$0.72 and last traded at C$0.71. 1,091,559 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 950,647 shares. The stock had previously closed at C$0.63.

Specifically, Director Richard Scott Young bought 195,000 shares of i-80 Gold stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average cost of C$0.64 per share, with a total value of C$124,800.00.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IAU. Ventum Cap Mkts cut i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. National Bank Financial lowered i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Cormark raised shares of i-80 Gold to a “hold” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$3.90.

i-80 Gold Price Performance

The company has a quick ratio of 1.57, a current ratio of 0.54 and a debt-to-equity ratio of 38.47. The stock has a market cap of C$292.55 million, a price-to-earnings ratio of -1.85 and a beta of 1.79. The stock has a fifty day moving average of C$1.42 and a two-hundred day moving average of C$1.44.

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.