i-80 Gold Corp. Updates
i-80 Gold Corp. (NYSEAMERICAN:IAUX) received a downgrade from National Bank Financial, predicting a loss of $0.21 per share for FY2024, down from an earlier estimate of $0.18. The stock holds a “Hold” rating. The market’s consensus for i-80 Gold’s full-year earnings is a loss of $0.03 per share. Future estimates are a loss of $0.12 EPS for FY2025 and $0.08 EPS for FY2026.
Most recently, the company reported a loss of $0.07 EPS for the quarter ending August 12, with revenues of $7.18 million and a negative profit margin of 162.24%.
Price Target Changes
CIBC lowered its price target for i-80 Gold from $4.25 to $3.50, maintaining an “outperformer” rating.
Stock Performance
i-80 Gold stock opened at $1.11, with a market cap of $332.16 million and a price-to-earnings ratio of -4.09. The stock has a 1-year low of $0.76 and a high of $1.88.
Institutional Holdings
Institutional investors now own 61.31% of i-80 Gold. In Q2, Van ECK Associates increased its stake by 23.3%, owning nearly 13 million shares valued at around $14 million. Tidal Investments and NewGen Asset Management also bought new stakes recently.
About i-80 Gold
i-80 Gold Corp. explores and produces gold, silver, and other metals in the U.S., focusing on properties in Nevada.
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