Here’s Why i-80 Gold Corp. (IAUX) Is Among the Hidden Penny Stocks to Invest In

i-80 Gold Corp. (NYSEAMERICAN:IAUX) is among the hidden penny stocks to invest in. On June 2, Freedom Broker elevated the price target on i-80 Gold Corp. (NYSEAMERICAN:IAUX) to $2.60 from $2 and reiterated a Buy rating. The firm highlighted the company’s stronger operational Q1, driven by enhanced gold sales volumes, higher realized gold prices, and the successful execution of its recapitalization plan, bringing in approximately $787.5 million in funding.

The firm believes that the investors will focus on minimizing financing risks instead of current financial results. What’s even more interesting is that the funding for the first and second stages of the Nevada development strategy is already fully secured. These developments make i-80 Gold Corp. (NYSEAMERICAN:IAUX) one of the hidden penny stocks to invest in now.

The core initiatives of i-80 Gold Corp. (NYSEAMERICAN:IAUX) include Granite Creek and Cove projects, first gold production at Upper Archimedes by the year-end, and Lone Tree complex reconstruction, the firm noted, adding that the successful implementation of these will solidify the company’s position among precious metals producers in Nevada. This is reinforced by the company’s one-year return of 120.97%, significantly higher than the market’s 29.23% return.

i-80 Gold Corp. (NYSEAMERICAN:IAUX) is a Nevada-based mining company exploring and developing gold and silver mineral deposits. Incorporated in 2020, the company also explores for polymetallic deposits.

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