i-80 Gold reported a third-quarter loss of C$0.06 per share, double the estimated loss of C$0.03. At the same time, development advanced across its Nevada project pipeline.
i-80 Gold Corp. (TSX: IAU) released its third-quarter 2026 results after markets closed on November 2. Revenue was US$32.7 million, up from US$32.0 million a year earlier. But its net loss widened to US$48.4 million from US$41.9 million. For Canadian investors, the results highlight the cost and execution risks of building future production while the company remains unprofitable. See the IAU stock page for company and share data.
Recent earnings trend
i-80 Gold Corp.
IAU.TO
IAU.TO
i-80 Gold Corp.
WealthAwesomeMarket cap
$1.68B
52W high
$3.04
52W low
$1.25
1W change
-6.76%
Beta
2.21
Analyst Price Targets
Based on analyst covering IAU · as of Nov 2, 2026
Wall Street analysts forecast IAU stock price to rise 139.4% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$4.62
+139.4% Upside
Previously C$4.63 on Oct 30, 2026
Current Price
C$1.93
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on IAU's historical volatility
30-Day Vol
56.0%
Annualized
90-Day Vol
60.9%
Annualized
Trend (90d)
-43.4%
Annualized drift
90d Mean
C$1.65
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$1.83 | C$1.51 – C$2.22 |
| 60 trading days | C$1.74 | C$1.32 – C$2.29 |
| 90 trading days | C$1.65 | C$1.18 – C$2.31 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-02 | -0.0600 | -0.0300 | -100.0% |
| 2026-06-30 | 2026-08-10 | -0.0500 | -0.0300 | -66.7% |
| 2026-03-31 | 2026-05-12 | -0.1288 | 0.0100 | -1388.0% |
| 2025-12-31 | 2026-02-19 | -0.0500 | -0.0100 | -400.0% |
| 2025-09-30 | 2025-11-12 | -0.0400 | -0.0100 | -300.0% |
| 2025-06-30 | 2025-08-13 | -0.0700 | -0.0200 | -250.0% |
Investor takeaway: Revenue and gross profit rose, but the net loss grew and the company used more cash in operating activities. Project progress could support future production, but significant execution and funding risks remain before that growth can lead to sustained profits.
US$48.4 million
That was i-80 Gold’s net loss for the third quarter, up from US$41.9 million a year earlier. The company said the increase was mainly due to higher pre-development, evaluation and exploration costs as it advanced several projects.
Bull case
Archimedes underground is still on track to begin production mining by the end of 2026. i-80 Gold also declared its first underground reserves at Granite Creek: 556,500 ounces. The company said refurbishment of the Lone Tree plant remained on schedule and largely on budget. These milestones support its plan for a Nevada hub-and-spoke operation, with a target of 150,000 to 200,000 ounces of annual gold production in 2028.
Bear case
The company missed the quarter’s EPS estimate, and its net loss grew from a year earlier as pre-development, evaluation and exploration costs increased. Cash used in operating activities rose to US$32.5 million from US$15.2 million. IAU has missed estimates in each of the past four comparable quarters. Its negative trailing EPS and profit margin also show that development progress has yet to translate into profits.
Earnings results
For the three months ended September 30, i-80 Gold reported EPS of -C$0.06, compared with an estimate of -C$0.03. The 100% miss extends a difficult run: the company has missed estimates in each of the past four comparable quarters. The earnings table and chart show how results have changed from quarter to quarter.
Revenue increased to US$32.7 million from US$32.0 million a year earlier. The company sold 7,744 ounces of gold at an average realized price of US$4,211 an ounce. A year earlier, it sold 9,368 ounces at US$3,412 an ounce. Production fell to 11,685 ounces from 12,428 ounces. Gross profit rose to US$5.0 million from US$3.1 million, helped by the higher realized gold price.
The higher gross profit did not prevent a larger net loss. Net loss reached US$48.4 million, compared with US$41.9 million a year earlier, mainly because of higher pre-development, evaluation and exploration costs. Cash used in operating activities also increased, to US$32.5 million from US$15.2 million. The company expects consolidated production to land in the lower half of its guidance range.
Project progress and production plans
Management said development at Archimedes underground remained on schedule and largely on budget. Production mining is targeted to begin by the end of 2026. A feasibility study for Granite Creek declared initial underground reserves of 556,500 ounces of gold, and development continued to improve access to high-grade areas. Work on the Lone Tree plant refurbishment also remained on schedule and largely on budget. Initial construction activities are planned for the fourth quarter.
These milestones support i-80 Gold’s plan to grow production through a Nevada hub-and-spoke operation. Management is targeting annual production of 150,000 to 200,000 ounces of gold in 2028. But the larger loss and cash outflow show the cost of advancing several projects before production is expected to grow. See the IAU stock page for more on the company.
Analyst targets and price model
Available analyst data shows an average target of C$4.62, compared with the last close of C$1.93. That implies 139.4% upside, but a target price is not a guarantee. Formal analyst ratings are unavailable for Canadian listings. See the analyst targets section for details.
Wealth Awesome’s statistical 90-day price model estimates a mean of C$1.65. Its 68% range is C$1.18 to C$2.31, and its 95% range is C$0.85 to C$3.23. The model estimates annualized drift of -43.4% and 30-day volatility of 56.0%. This statistical model is not financial advice. See the price forecast for more information.
Best next step
Keep exploring this topic
If you want to go deeper, these are the most useful follow-up pages and tools for this topic.
Gold ETFs
Best gold ETFs in Canada
If this story is about gold, compare CGL, VALT, KILO, and miner ETFs.
Broker comparison
Best trading platforms in Canada
Compare $0-commission brokers before you act on a ticker story.
Safe cash
Best GIC rates in Canada
If the story makes you want to de-risk, compare guaranteed rates next.
HISA roundup
Best high-interest savings accounts
Keep dry powder in a no-fee savings account instead of chequing.
Wealth Awesome
Timely coverage of Canadian stocks, earnings, dividends, and market movers for DIY investors. Stories are checked against exchange data and public filings.
View Full Profile →✅ Reviewed by Certified Financial Professionals
This content has been reviewed by CFA® charterholders and Certified Financial Planners (CFP®) with over a decade of experience in Canadian financial markets. All information is fact-checked against official Canadian sources and regulations.
Why these credentials matter: CFA® charterholders complete 900+ hours of rigorous study in investment analysis and ethics. CFP® professionals are held to the highest standards of financial planning competency and fiduciary duty in Canada.
⚠️ Professional Disclaimer
This content is for educational purposes only and should not be considered personalized financial advice. While our team brings professional expertise, individual circumstances vary. For personalized guidance, consult with a qualified financial advisor, tax professional, or mortgage specialist.
