# i-80 Gold Corp. (IAUX)

> Source: Nexqual · https://nexqual.com/IAUX · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, i-80 Gold Corp. (IAUX), nexqual.com/IAUX" · informational, not investment advice.

**Price:** USD 1.47 (-3.29% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 1.52 · day 1.46–1.5 · 52w 0.89–2.24 · market cap $1.27B · ASE

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $130M, net income -$259M (-198.8% margin), free cash flow -$186M (SEC filings).
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $72K; 2 not under a Rule 10b5-1 plan ($72K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $1.7M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (1 analysts), mean target USD 2.9 (range 2.9–2.9).
- Total return with dividends: 1Y +54.3% vs S&P 500 +14.8%; 5Y -39.5% vs S&P 500 +79.1%.
- Next earnings: 2026-11-02, EPS estimate USD -0.02, revenue estimate $49.9M. All companies reporting that day: https://nexqual.com/earnings/2026-11-02
- Dividend: IAUX paid no cash dividend in the last five years.
- Short interest: 11.21% of float (as of 2026-10-15), 11.6 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $54.9M | $50.3M | $95.2M | $130M |
| Gross profit | -$5.1M | -$15.7M | $11.5M | — |
| Operating income | -$101M | -$89.1M | -$124M | -$146M |
| Net income | -$89.7M | -$122M | -$199M | -$259M |
| EPS (diluted) | -$0.33 | -$0.34 | -$0.30 | — |
| Free cash flow | -$94.9M | -$84.5M | -$93.2M | -$186M |
| Gross margin | -9.4% | -31.2% | 12.1% | — |
| Operating margin | -183.9% | -177.0% | -130.7% | -112.1% |
| Net margin | -163.3% | -241.4% | -208.9% | -198.8% |
| Revenue growth | — | -8.3% | +89.1% | — |
| Cash + short-term investments | $16.3M | $19.0M | $63.2M | — |
| Total debt | $194M | $191M | $175M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 9.8x · EV/Sales 9.6x · P/B 4.9x · FCF yield -14.60% · Earnings yield -20.31% · Net cash $18.8M · EV $1.25B

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-02 | Begeman John Arthur | Director | 19,231 | $33K | 2.3% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-28 | Begeman John Arthur | Director | 24,356 | $39K | 2.9% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
4 purchases, $1.7M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-18 | Savarie David Roger | EVP, General Counsel | 4,575 | $7K | 1.59 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-18 | Young Richard Scott | President and CEO | 1,000,000 | $1.6M | 1.62 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-15 | Yopps Steven W. | Director | 50,000 | $74K | 1.47 | Too little history (no open-market trades in 2023–2025) |
| 2026-03-25 | Butler Ronald Jr | Director | 17,730 | $25K | 1.41 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 1 analysts; mean target USD 2.9 (low 2.9, high 2.9).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Freedom Broker | Target raised | Buy | $2.8 → $2.9 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +54.3% | -39.5% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +54.7% | -9.5% |
| Volatility (annualized) | 61.9% | 80.2% |
| Max drawdown | -39.4% (Feb 2026→Jul 2026) | -88.6% (Mar 2022→Nov 2024) |

## Dividends
IAUX paid no cash dividend in the last five years.

## Short interest
96,163,590 shares sold short, 11.21% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 90,667,469 shares (+6.1%). Days to cover: 11.6 (short shares ÷ average daily volume).

## Peers (Gold)
AAUC (Allied Gold Corporation) USD 19.66 -2.67% · FSM (Fortuna Mining Corp.) USD 9.37 -2.90% · SA (Seabridge Gold, Inc.) USD 25.78 -3.45% · ARIS (Aris Mining Corporation) USD 15.88 -3.41% · CGAU (Centerra Gold Inc.) USD 20.43 -3.54% · OGC (OceanaGold Corporation) USD 25.27 -2.81%

## More
Full page: https://nexqual.com/IAUX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in IAUX's own 10-K filed 2026-02-19 (https://www.sec.gov/Archives/edgar/data/1853962/000162828026009886/iaux-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | NV Gold Corp (NVGLF) | "These claims were initially staked by the Cordilleran Explorations partnership, the original developer of the Granite Creek Property, and are subject to the Royal Gold Royalty, the Cordilleran Royalty and the PMC Royalty…" |
| Partner | VOX ROYALTY CORP. (VOXR) | "The Orion Offtake Agreement has similar terms to the Company's existing offtake agreement and commences once the current offtake agreement with Vox Royalty Corp. (the "Vox Offtake Agreement") expires at the end of Decemb…" |
| Partner | FRANCO NEVADA Corp (FNV) | "On February 11, 2026 the Company confirmed the mailing of a conditional mandatory redemption notice to all holders of the Convertible Debentures which are expected to be redeemed, as per the terms above, on March 16, 202…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Lone Tree | $11.9M | 48.8% | +104.3% |
| Granite Creek | $9.4M | 38.4% | -52.6% |
| Ruby Hill | $3.1M | 12.7% | +35.6% |
| Total revenue | $24.3M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Gold and silver | $19.2M | 78.8% | +6.2% |
| Mineralized material | $5.2M | 21.2% | -47.1% |
| Total revenue | $24.3M | 100% | — |

## Company outlook (8-K filed 2026-08-10)

- "Full-Year Guidance as Granite Creek Ramps Up and Development Plan Advances TORONTO, ON, August 10 , 2 026 – i-80 GOLD CORP."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.02 | $-0.03 | +$0.01 | $49.9M | 1 |
| Next quarter (ends 2026-12-31) | $-0.02 | $-0.04 | +$0.02 | $57.1M | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.13 | $-0.15 | +$0.02 | $180.8M | 1 |
| Next fiscal year (ends 2027-12-31) | $-0.17 | $-0.18 | +$0.01 | $251.5M | 1 |

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-15 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1853962/000119312526422255/0001193125-26-422255-index.htm |
| 2026-09-22 | 8-K | Other material event — “Updated Pre-Feasibility Study and Technical Report Summary for the Granite Creek Underground Project On September 21, 2026, the Company provided the SEC Technical Report Summary, Pre-Feasibility Study, Granite Creek, Humboldt County, NV for its Granite Creek Underground Project, dated September 21, 2026 with an effective date of March 31, 2026, ( the " PFS ") prepared in accordance with the Securities and Exchange Commission S-K regulations (Title 17, Part 229, Items 601 and 1300 through 1305) for the Company by…” | https://www.sec.gov/Archives/edgar/data/1853962/000119312526397337/0001193125-26-397337-index.htm |
| 2026-09-22 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1853962/000119312526397273/0001193125-26-397273-index.htm |
| 2026-09-08 | Schedule 13G | Libra Advisors, LLC, Ranjan Tandon, LLC: 7.4% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1853962/000119312526385224/0001193125-26-385224-index.htm |
| 2026-08-14 | Schedule 13G/A | Sprott Inc., Sprott Asset Management USA, Inc.: 5.3% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1853962/000091957426005575/0000919574-26-005575-index.htm |
| 2026-08-10 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1853962/000162828026055373/0001628280-26-055373-index.htm |
| 2026-08-10 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1853962/000162828026055367/0001628280-26-055367-index.htm |
| 2026-07-30 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1853962/000162828026050887/0001628280-26-050887-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.