11:54 AM EDT, 05/05/2025 (MT Newswires) -- (Adds comment and updates shares.)

i-80 Gold ( IAUX ) on Monday said its first-quarter loss widened on losses from a gold prepay and silver purchase agreement.

The company said its loss widened to US$41.2 million, or US$0.10 per share, from a loss of US$19.7 million, or US$0.06, in the year-prior quarter.

Revenue rose to US$14 million from US$8.4 million.

The company sold 4,952 ounces of gold at an average realized gold price of US$2,825/ounce, up from 4,061 ounces at US$2,063/ounce.

National Bank of Canada reiterated its outperform rating on i-80 shares and its $2.00 price target following the earnings.

National Bank said its thesis for the company is supported by its sizable resource endowment, with exploration upside in a tier 1 jurisdiction and multiple growth levers. These are tempered by de-risking with updated mineral resource estimate and mine plan updates for five projects, recapitalization, financing and development.

The company's shares were last seen down $0.01 to $0.79 on the Toronto Stock Exchange.

Price: 0.79, Change: -0.01, Percent Change: -1.25