Scotiabank Issues Optimistic Estimate for i-80 Gold Earnings

i-80 Gold Corp. (NYSE:IAUX) – Scotiabank lifted their FY2024 EPS estimates for shares of i-80 Gold in a report released on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will earn ($0.15) per share for the year, up from their previous forecast of ($0.17). The consensus estimate for i-80 Gold’s current full-year earnings is ($0.16) per share. Scotiabank also issued estimates for i-80 Gold’s FY2025 earnings at ($0.04) EPS and FY2026 earnings at $0.15 EPS.

Other research analysts have also issued research reports about the company. Cibc World Mkts lowered i-80 Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 2nd. Cormark upgraded i-80 Gold to a “hold” rating in a report on Thursday, November 14th. National Bank Financial upgraded i-80 Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 8th. Ventum Cap Mkts lowered shares of i-80 Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, 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. Three investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

i-80 Gold Stock Up 6.3 %

i-80 Gold stock opened at $0.61 on Monday. The business has a 50-day simple moving average of $0.57. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.22 and a current ratio of 0.33. The company has a market cap of $182.43 million, a P/E ratio of -1.69 and a beta of 1.25. i-80 Gold has a twelve month low of $0.34 and a twelve month high of $1.78.

Hedge Funds Weigh In On i-80 Gold

Several hedge funds have recently modified their holdings of IAUX. JPMorgan Chase & Co. increased its stake in shares of i-80 Gold by 27.1% in the third quarter. JPMorgan Chase & Co. now owns 146,953 shares of the company’s stock worth $170,000 after acquiring an additional 31,315 shares during the period. Murphy Pohlad Asset Management LLC boosted its holdings in i-80 Gold by 240.0% in the third quarter. Murphy Pohlad Asset Management LLC now owns 51,000 shares of the company’s stock valued at $59,000 after purchasing an additional 36,000 shares during the last quarter. Rathbones Group PLC acquired a new stake in i-80 Gold during the 2nd quarter worth about $47,000. The Manufacturers Life Insurance Company raised its stake in shares of i-80 Gold by 63.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 116,374 shares of the company’s stock valued at $135,000 after buying an additional 45,101 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of i-80 Gold by 23.8% in the 2nd quarter. Rhumbline Advisers now owns 313,819 shares of the company’s stock valued at $339,000 after buying an additional 60,343 shares during the period. Institutional investors and hedge funds own 61.31% of the company’s stock.

About i-80 Gold

i-80 Gold Corp. is a mining company, engages in the exploration, development and production of gold and silver mineral deposits principally in the United States. i-80 Gold Corp. is based in Reno, Nevada.