i-80 Gold (TSE:IAU) Shares Down 5.1% - Here's What Happened

i-80 Gold Corp. (TSE:IAU) saw a decline in its stock price by 5.1% during trading on Friday. The stock reached a low of C$0.94 before finishing the day at that same price. During the day, around 93,025 shares changed hands, which is a significant drop of 85% compared to the average daily trading volume of 632,365 shares. Prior to this drop, the stock had closed at C$0.99.

Wall Street Analyst Weigh In

Recently, a number of brokerages have provided insights on i-80 Gold. For instance, Cormark rated the stock as a "hold" in a report released on November 14th. On the other hand, Ventum Capital Markets downgraded the stock from a "strong-buy" to a "hold" in their report on November 13th. Further changes were noted when Cibc World Markets also lowered their rating from "strong-buy" to "hold" on December 2nd. National Bankshares upgraded i-80 Gold from a "sector perform" rating to "outperform" but adjusted their target price from C$2.25 to C$1.75 in their report dated January 9th. Additionally, Royal Bank of Canada revised its price target from C$3.00 down to C$2.00 in a report from December 6th. Currently, three research analysts have issued a hold rating on i-80 Gold, while two have given it a buy rating, and one has assigned a strong buy label. According to information from MarketBeat.com, the overall consensus rating for the stock is a "Moderate Buy" with a price target averaging C$2.55.

i-80 Gold Stock Performance

When examining i-80 Gold's financial statistics, it has a current ratio of 0.33, a quick ratio of 1.57, and a debt-to-equity ratio of 40.07. The stock's fifty-day moving average price is C$0.90, while the 200-day moving average is C$1.12. The company's market capitalization stands at C$237.87 million, with a price-to-earnings ratio of -1.64 and a beta of 1.79.

i-80 Gold Company Profile

i-80 Gold Corp. is a mining company focused on operations in Nevada. The company aspires to become a mid-tier gold producer through the development of four new mining projects, which include both open pit and underground operations. The plan is to process the ore at the central Lone Tree complex, which will make use of an Autoclave. i-80 Gold aims to build a self-sustaining mining operation with well-structured growth strategies that minimize risks while exploring opportunities for expansion.

Should You Invest $1,000 in i-80 Gold Right Now?

Before making any investments in i-80 Gold, potential investors should consider some critical insights. Current ratings among analysts reflect a "Moderate Buy" for i-80 Gold. However, top financial analysts are pointing towards five other stocks that are rated as better investment opportunities. It is advisable to research these options before deciding on i-80 Gold.

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