i-80 Gold Corp (IAU) AI Stock Analysis

• Market Cap: C$316.48M
• Dividend Yield: N/A
• Average Volume (3M): 741.47K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.68
• Revenue Growth: 31.32%
• EPS Growth: 8.28%
• Country: CA
• Employees: 109
• Sector: Basic Materials
• Sector Strength: 64
• Industry: Gold
• EPS (TTM): -0.44
• Shares Outstanding: 442,360,930
• 10 Day Avg. Volume: 734,186
• 30 Day Avg. Volume: 741,465
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 5.09
• Price to Cash Flow (P/CF): N/A
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$2.00
• Price Target Upside: 150.00% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

i-80 Gold Corp's overall score reflects significant financial and operational challenges, with negative profitability and cash flow issues weighing heavily. While recent capital raises and an ambitious development plan provide some positive prospects, the company's current financial instability and market momentum present substantial risks, resulting in a cautious outlook.

Positive Factors

Company Strategy

Management has initiated a two-phase recapitalization plan to generate free cash flow and reschedule or refinance existing debt obligations.

Leadership

Richard Young brings extensive financial, development, and operational expertise to i-80.

Negative Factors

Asset Value

The company's NAV has decreased by 30% to $2.16/sh, indicating a significant drop in asset value.

Funding Challenges

The biggest risk to this new plan is the outside capital required, with $300m needed to support ongoing and planned development activities as well as service debt obligations.

Production Challenges

Gold sales of 3.063koz fell below the estimate due to underground water issues.

i-80 Gold Corp Business Overview & Revenue Model

Company Description

i-80 Gold Corp., a mining company, engages in the exploration, development, and production of gold and silver mineral deposits in the United States. It holds a 100% interest in the Lone Tree property covering an area of approximately 12,000 acres located in Battle Mountain-Eureka, Northern Nevada; Ruby Hill property located in Battle Mountain Trend, Northern Nevada; McCoy-Cove project covering 31,000 acres located in Battle Mountain Trend, Nevada; and Buffalo Mountain property located in Battle Mountain Trend, Northern Nevada as well as controls Granite Creek Project located in Getchell Trend, Northern Nevada. The company was incorporated in 2020 and is headquartered in Reno, Nevada.

How the Company Makes Money

i-80 Gold Corp generates revenue primarily through the extraction and sale of gold and other precious metals. The company's revenue model revolves around mining operations where it explores and develops mineral-rich properties. Once the gold is extracted, it is processed and sold at market prices, which can fluctuate based on global demand and supply dynamics. Key revenue streams include the sale of mined gold and any by-products obtained during the mining process. Strategic partnerships and joint ventures with other mining companies or stakeholders may also contribute to its revenue by enhancing operational capabilities and expanding market reach.

i-80 Gold Corp Financial Statement Overview

Summary

i-80 Gold Corp faces significant profitability challenges with persistent negative margins across income statement metrics. The balance sheet indicates moderate leverage but negative returns, while cash flow issues suggest potential liquidity concerns. The company needs to focus on improving operational efficiency and cash generation to enhance financial stability.

Income Statement

The company has shown negative profitability with a declining gross profit margin and net profit margin in the TTM (Trailing-Twelve-Months). Revenue growth is volatile, and both EBIT and EBITDA margins are negative, indicating operational challenges.

Balance Sheet

The debt-to-equity ratio is moderate, suggesting some level of financial leverage. However, the return on equity is negative, reflecting lack of profitability. The equity ratio is stable, indicating a reasonable proportion of equity financing.

Cash Flow

Cash flow from operations is negative, indicating potential liquidity challenges. Free cash flow has improved marginally but remains negative. The operating cash flow to net income ratio reflects weak cash flow generation relative to reported losses.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
52.94M	54.91M	36.96M	0.00	0.00	10.46M
	Gross Profit
-13.90M	-5.14M	3.57M	-387.00K	-314.00K	4.96M
	EBIT
-68.97M	-68.80M	-68.67M	111.03M	-6.29M	-3.89M
	EBITDA
-79.61M	-35.97M	-62.48M	-24.07M	-6.06M	-3.24M
	Net Income Common Stockholders
-122.53M	-65.20M	-79.20M	88.22M	-12.49M	-8.10M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
―	16.28M	48.28M	87.66M	―	26.21M
	Total Assets
―	723.69M	641.96M	656.35M	―	162.25M
	Total Debt
70.60M	180.27M	115.88M	41.44M	70.60M	70.68M
	Net Debt
70.60M	164.00M	67.60M	-46.22M	70.60M	44.47M
	Total Liabilities
159.77M	297.43M	308.55M	249.37M	159.77M	176.36M
	Stockholders Equity
―	426.26M	333.41M	406.98M	―	-14.11M
Cash Flow		Free Cash Flow
-82.54M	-94.13M	-96.06M	-19.02M	-2.97M	22.60M
	Operating Cash Flow
-63.27M	-54.62M	-45.84M	-13.01M	4.62M	55.53M
	Investing Cash Flow
-14.76M	-42.51M	-54.73M	-137.59M	-9.38M	-31.69M
	Financing Cash Flow
61.39M	65.16M	61.43M	222.90M	-6.22M	-4.55M

i-80 Gold Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IAU, the sentiment is Negative. The current price of 0.8 is below the 20-day moving average (MA) of 0.93, below the 50-day MA of 0.95, and below the 200-day MA of 1.16, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 35.04 is Neutral, neither overbought nor oversold. The STOCH value of 7.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IAU.

i-80 Gold Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AEM	80 Outperform	C$76.86B	29.42	9.42%	1.47%	26.99%	-6.63%
NGD	66 Neutral	$3.96B	28.43	11.14%	―	18.32%	―
BTO	54 Neutral	$5.44B	―	-18.54%	4.81%	-4.17%	-318.18%
IAU	48 Neutral	C$316.48M	―	-30.52%	―	31.32%	8.28%
Sector *	47 Neutral	$2.64B	-3.21	-21.68%	3.30%	4.19%	-30.23%
G	33 Underperform	$89.37M	―	-23.87%	―	―	-199.24%

i-80 Gold Corp Corporate Events

i-80 Gold Corp. Completes C$22.57 Million Prospectus Offering

i-80 Gold Corp. has successfully closed its upsized prospectus offering, raising approximately C$22.57 million through the issuance of over 28 million common shares. This capital raise is aimed at supporting the company’s strategic objectives, potentially enhancing its position within the gold mining industry and creating value for stakeholders by expanding its operations in Nevada.

i-80 Gold Upsizes Share Offering to Bolster Growth

i-80 Gold Corp. has filed a prospectus supplement for an upsized offering of common shares, aiming to raise up to C$29 million. This offering, increased from US$10 million to US$20 million, is expected to close by January 31, 2025, and is pending regulatory approvals. Concurrently, a private placement involving key company insiders is set to raise additional funds, with proceeds earmarked for working capital and corporate purposes. This financial maneuver is part of i-80 Gold’s broader strategy to strengthen its operational and market position as it progresses towards becoming a mid-tier Nevada gold producer.

i-80 Gold Corp. Prices Prospectus Offering to Advance Nevada Projects

i-80 Gold Corp. has announced the pricing of its prospectus offering of common shares, set at C$0.80, intended to raise US$10,000,000. The proceeds will support the development of the company’s projects in Nevada and facilitate the second phase of its recapitalization plan. The offering is subject to regulatory approvals and customary closing conditions, and no commission or finder’s fee will be paid. This move is part of i-80 Gold’s strategy to enhance its positioning in the Nevada gold mining sector as a mid-tier producer.

i-80 Gold Amends Credit Agreement and Launches Financing Initiative

i-80 Gold Corp. has successfully amended and restated its convertible credit agreement with Orion Mine Finance, including extending the maturity date and issuing five million common share purchase warrants. This move is part of i-80 Gold’s broader recapitalization plan, which includes a US$10 million financing initiative to fund Nevada project developments and support working capital, with significant participation anticipated from major shareholders.

i-80 Gold Advances Recapitalization with Debenture Amendments

i-80 Gold Corp. has reached an agreement with certain convertible debenture holders to amend the terms of its convertible debentures, marking a significant step in the second phase of its recapitalization plan. These amendments, which include adjustments to conversion prices, aim to facilitate the company’s financial restructuring efforts, expected to be completed by the first quarter of 2025, thereby potentially enhancing its operational stability and market positioning.

i-80 Gold Corp’s Strategic Recapitalization Moves

i-80 Gold Corp has deferred its December gold and January silver deliveries to March 2025 as part of a strategic recapitalization plan. The company is working with financial partners to restructure debt and develop its Nevada gold projects, aiming to become a mid-tier producer. Key developments include planned economic assessments for its projects and an updated mineral resource report.