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i-80 Gold

IAUX
20
Gold · Basic Materials
Price
$1.29
+0.03 (+2.38%)
Market Cap
$1.11B
Exchange
New York Stock Exchange American
Winston Score
20
Winston is worried
Weak fundamentals across most pillars.

Share count rising — dilution

+181.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 238.7M (2021) → 671.7M (2025)

i-80 Gold Corp. is a gold mining company based in Canada that focuses on finding and producing gold in the state of Nevada. Nevada is one of the most gold-rich regions in the United States, and i-80 Gold controls several mining projects there, including properties at Granite Creek, Ruby Hill, and McCoy-Cove. The company is still in the development and early production stage, meaning it is working to build up its mines rather than running them at full capacity.

i-80 Gold makes money by selling gold and other metals like silver and antimony from its Nevada properties. The company is relatively small, with a market cap around $1.3 billion, and its negative margins show it is spending more than it earns right now — a common situation for early-stage miners. The key growth driver is successfully advancing its high-grade underground deposits toward full commercial production, but the main risk is that continued losses and capital needs could pressure the company to raise more money and dilute existing shareholders.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+272.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+1.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

16.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~19 months

$514M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

i-80 Gold grew revenue 273% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
-19.0%
Thin — -19.0% gross margin
Operating Margin
-41.6%
Losing money on operations — -41.6%
ROCE
-3.0%
Weak — -3.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
+138.6%
Fast-growing sales (138.6% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-101.7%
Burning cash (-101.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity
1.46
Elevated debt (1.46)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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