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i-80 Gold Corp
(NYSE MKT:IAUX)
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Rating:53Neutral
Price Target:
$2.00
▲(4.17% Upside)
Action:N/A
Date:09/24/26
The score is held back primarily by weak financial performance: large ongoing losses, heavy cash burn, and sharply higher leverage. Offsetting this, the latest earnings call supports a constructive medium-term operational outlook with reiterated guidance and project execution progress, while technical indicators are neutral-to-modestly positive. Valuation remains challenged because profitability is negative and no dividend support is provided.
Positive Factors
Production and revenue growth
Higher production and revenue indicate improving operating scale and stronger asset contribution. If the company sustains this growth while advancing its projects, expanding ounces sold can provide a durable foundation for better cost absorption and future earnings potential.
Negative Factors
Persistent large losses
Large and recurring losses show that current operations and development spending are not yet supported by the revenue base. Continued negative profitability can constrain internal funding, increase reliance on capital markets, and delay the point at which growth translates into durable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Production and revenue growth
Higher production and revenue indicate improving operating scale and stronger asset contribution. If the company sustains this growth while advancing its projects, expanding ounces sold can provide a durable foundation for better cost absorption and future earnings potential.
Read all positive factors
i-80 Gold Corp (IAUX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.50B
Dividend YieldN/A
Average Volume (3M)9.64M
Price to Earnings (P/E)―
Beta (1Y)2.00
Revenue Growth69.73%
EPS Growth-3.27%
CountryUS
Employees133
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.28
Shares Outstanding865,901,700
10 Day Avg. Volume10,042,880
30 Day Avg. Volume9,642,289
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)2.85
Price to Sales (P/S)10.38
P/FCF Ratio-14.49
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$3.54Price Target Upside84.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.16
Revenue Forecast (FY)$197.67M
i-80 Gold Corp Business Overview & Revenue Model
Company Description
i-80 Gold Corp. specializes in the exploration, development, and production of gold and silver mineral deposits within the United States. The company holds a 100% interest in the Lone Tree property, encompassing approximately 12,000 acres in North...
How the Company Makes Money
i-80 Gold makes money primarily by producing and selling precious metals—mainly gold and, where present, silver—derived from ore mined from its Nevada operations and then processed into saleable product (e.g., doré). Revenue is generally recognize...
i-80 Gold Corp Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed material operational progress and a strengthened financial position following a successful recapitalization, with clear milestones toward substantially higher production by 2028 (Lone Tree refurbishment on schedule, Archimedes ramping, positive infill drilling). However, the company is executing through a period of elevated predevelopment spending, higher operating cash burn, inventory build due to third‑party processing limits, and moderate schedule delays caused by drill rig and contractor staffing constraints. Many of the reported financial headwinds are driven by noncash revaluations and timing; management emphasized that 2026 guidance remains intact and that the pipeline of projects is de‑risking, supporting a constructive medium‑term outlook.Positive Updates
Recapitalization and strengthened balance sheet
Successful recapitalization completed Q1 2026; cash balance of approximately $465M at quarter end (down from $514M at Q1-end, ~9.5% decrease) and over $1B of proceeds funded/committed since May 2025. Released ~$17M in restricted cash and 8.5M warrants exercised during the quarter (152M warrants outstanding of original 186M).
Negative Updates
Project timing and resource uncertainties
Some technical work remains (feasibility/pre‑feasibility studies and additional geotechnical/hydrogeological drilling) and delays could impact timing of declared reserves, commissioning schedules and when predevelopment costs can be capitalized.
Read all updates
Q2-2026 Updates
Positive
Negative
Recapitalization and strengthened balance sheet
Successful recapitalization completed Q1 2026; cash balance of approximately $465M at quarter end (down from $514M at Q1-end, ~9.5% decrease) and over $1B of proceeds funded/committed since May 2025. Released ~$17M in restricted cash and 8.5M warrants exercised during the quarter (152M warrants outstanding of original 186M).
Read all positive updates
Company Guidance
Management reiterated 2026 guidance and provided numerous operational and financial metrics: companywide Q2 production was ~11.1k oz (sales 5.3k oz) and YTD production/sales ~22k/16k oz, Granite Creek Q2 production ~8.6k oz and YTD ~17.5k oz from ~72k t mined (13.6k t sulfide @6.5 g/t; 12k t oxide @7.4 g/t), unit mining cost ~ $178/t, work‑in‑process inventories of ~5.3k recoverable oz at a third‑party processor plus ~1.8k oz on site; Q2 revenue just over $24m (YTD ~$77m), gross profit $9m (Q2) / $25m (YTD), realized gold price ~ $2,800/oz, net loss Q2 $53m (‑$0.06/sh) / YTD $131m (‑$0.15/sh), adjusted net loss Q2 $41m / YTD $70m, cash used in ops Q2 $50m / YTD $95m, and cash balance ~$465m (down from ~$514m); capital and project guidance: growth capex $150–175m (accrual), Lone Tree refurbishment targeting first gold by end‑2027 with ~40% capital committed and ~50% of procurement packages awarded, expected owner processing in 2028 to improve cash margins by $1,000–1,500/oz and lift annual production from ~50k oz in 2026 to 150–200k oz in 2028 (pathway >600k oz by early‑2030s), Archimedes capex +$10–15m, exploration expense ~$10m lower, and timing updates including Granite Creek FS Q3‑2026, Archimedes FS ~mid‑2027, Cove FS late‑Q3‑2026, and Mineral Point prefeasibility ~mid‑2027 (drill program ~131k m targeting ~300 holes, ~15.8k m completed H1).i-80 Gold Corp Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
33
Negative
Cash Flow
21
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 123.88M | 95.19M | 50.34M | 54.91M | 36.96M | 0.00 |
| Gross Profit | -44.34M | -55.78M | -15.72M | -5.14M | 3.57M | -662.00K |
| EBITDA | -110.08M | -170.23M | -85.27M | -57.82M | -67.71M | 97.65M |
| Net Income | -234.13M | -198.85M | -121.53M | -89.65M | -79.20M | 88.22M |
Balance Sheet | ||||||
| Total Assets | 1.17B | 703.42M | 655.63M | 723.69M | 641.96M | 656.35M |
| Cash, Cash Equivalents and Short-Term Investments | 464.36M | 63.24M | 19.00M | 16.28M | 48.28M | 87.66M |
| Total Debt | 445.54M | 174.72M | 191.40M | 180.27M | 115.88M | 41.44M |
| Total Liabilities | 915.40M | 356.65M | 314.96M | 297.43M | 308.55M | 249.37M |
| Stockholders Equity | 257.94M | 346.77M | 340.66M | 426.26M | 333.41M | 406.98M |
Cash Flow | ||||||
| Free Cash Flow | -183.71M | -68.18M | -84.52M | -94.13M | -96.06M | -19.02M |
| Operating Cash Flow | -144.92M | -61.29M | -82.50M | -54.62M | -45.84M | -13.01M |
| Investing Cash Flow | -38.79M | -6.89M | -1.59M | -42.51M | -54.73M | -137.59M |
| Financing Cash Flow | 484.89M | 100.97M | 82.67M | 65.16M | 61.43M | 222.90M |
i-80 Gold Corp Technical Analysis
Neutral
1.92
Price Trends
1.62
Positive
1.56
Positive
1.60
Positive
Market Momentum
0.02
Positive
50.11
Neutral
62.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IAUX, the sentiment is Neutral. The current price of 1.92 is above the 20-day moving average (MA) of 1.76, above the 50-day MA of 1.62, and above the 200-day MA of 1.60, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 50.11 is Neutral, neither overbought nor oversold. The STOCH value of 62.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IAUX.
i-80 Gold Corp Risk Analysis
i-80 Gold Corp disclosed 57 risk factors in its most recent earnings report. i-80 Gold Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
i-80 Gold Corp Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | C$2.13B | 12.23 | 24.45% | ― | 92.51% | 33.10% | |
68 Neutral | C$1.97B | 25.56 | 22.56% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | $1.50B | -6.25 | -85.63% | ― | 69.73% | -3.27% | |
50 Neutral | C$796.00M | -1.31 | -485.87% | ― | ― | ― |
* Basic Materials Sector Average
IAUX
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i-80 Gold Corp Corporate Events
Business Operations and Strategy
i-80 Gold advances Lone Tree plant refurbishment in Nevada
Positive
Jul 30, 2026
On July 28, 2026, i-80 Gold reported that refurbishment of its Lone Tree autoclave and carbon-in-leach plant in Nevada, a cornerstone of Phase 1 of its development plan, is progressing on schedule and within budget. Early works, safety systems, co...
Business Operations and Strategy
i-80 Gold advances Ruby Hill drilling and development
Positive
Jul 1, 2026
i-80 Gold reported on June 25, 2026, that its 2025-2026 infill drilling campaign in the upper 426 zone of the Archimedes Underground Project at Ruby Hill delivered additional high-grade gold intercepts, including 16.2 grams per tonne over 56.4 met...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
i-80 Gold Ends Vox Offtake, Issues Settlement Shares
Neutral
Jun 26, 2026
On June 25, 2026, i-80 Gold Corp. entered into an Offtake Termination and Settlement Agreement with Vox Royalty Cayman SEZC and its parent, Vox Royalty Corp., to end their August 23, 2023 Amended and Restated Offtake Agreement, which had required ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
i-80 Gold Shareholders Back Board, Governance and Auditor
Positive
Jun 24, 2026
At its annual meeting on June 23, 2026, i-80 Gold shareholders approved setting the board size at nine directors and elected all management-nominated candidates, including mining veteran Stephen Gottesfeld. Turnout reached about 60% of outstanding...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.