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How to Buy i-80 Gold Stock in Canada [2024]

How to Buy i-80 Gold Stock in Canada
Bogdan Stojkov

Summary: Anyone can invest in i-80 Gold (TSX: IAU) and potentially grow their wealth, as it’s a publicly-traded company. As such, the most convenient way to buy i-80 Gold stock in Canada is through a regulated online broker. Our chosen brokerage for i-80 Gold stock is Interactive Brokers.

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

About i-80 Gold

i-80 Gold Corp. is a mining company engaged in the exploration, development, and production of mineral resources, primarily gold. With a focus on sustainable and responsible mining practices, i-80 Gold aims to deliver value to its shareholders while prioritizing environmental and social considerations. Therefore, the company’s projects are strategically located in mining-friendly jurisdictions, which can contribute to its long-term growth potential.

i-80 Gold homepage. Source: i80gold.com

i-80 Gold IPO

i-80 Gold went public through an IPO in 2021. This was a significant milestone that allowed investors to become part owners of the company. The i-80 Gold IPO involved issuing a specific number of shares at a certain price to raise capital for the company’s operations and expansion. The company’s stock is available on the Toronto Stock Exchange (TSX) under the ticker symbol IAU.

How to buy i-80 Gold stock in Canada: Step-by-step

Purchasing i-80 Gold stock in Canada involves a few straightforward steps, so here’s all you need to know:

Step 1: Research and education

Before investing in any stock, it’s crucial to conduct thorough research. You should understand the company’s financials, management team, mining projects, and broader industry trends. However, make use of reliable financial news sources, investor presentations, and official company documents.

Step 2: Select a stock brokerage account

To buy i-80 Gold stock, you’ll first need a brokerage account. So, be sure to choose a reputable brokerage that offers access to Canadian and international stock exchanges. Furthermore, it’s necessary to ensure the brokerage provides the tools and support you require for your investment journey.

Having said that, we should note that our go-to brokerage for buying i-80 Gold stock in Canada is Interactive Brokers. Aside from licenses from the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), IBKR also stands out due to:

  • Low commissions and financing rates to maximize returns;
  • Global access to stocks, futures, bonds, and funds;
  • Trading efficiency with advanced technology;
  • Secure trading experience.

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Step 3: Account setup

Once you pick a brokerage that meets your investment strategy the best, you should set up an account. To do so, simply follow the brokerage’s instructions. However, be aware that this process usually involves providing personal information, verifying your identity, and, of course, transferring funds. So, just stick to what your desired brokerage says.

Step 4: Search and purchase

Once your account is set up and funded, you can use the brokerage’s trading platform to search for i-80 Gold stock. Namely, stocks are identified by their ticker symbol, which for i-80 Gold is likely IAU. Therefore, enter the number of shares you wish to purchase and review the order details before confirming the transaction.

Step 5: Monitor and manage

After purchasing i-80 Gold stock, you’ll become a shareholder in the company. However, that’s not the end of your journey as an investor. You should, instead, keep monitoring your investment regularly and stay informed about any updates, earnings reports, or market developments that may impact i-80 Gold’s stock value.

Pros and cons of buying i-80 Gold stock

As with any investment, buying i-80 Gold stock comes with its own set of advantages and disadvantages. Here’s what to know:

Pros

Pros

  • Potential for growth: If i-80 Gold’s mining projects are successful, the company’s stock could appreciate in value, offering you a chance to earn a substantial return on your investment;
  • Diversification: Investing in stocks, including i-80 Gold, allows you to diversify your investment portfolio and reduce risk by spreading your funds across different assets;
  • Ownership and influence: Buying i-80 Gold stock means you own a part of the company. As a shareholder, you may have the right to vote on certain matters and receive dividends if the company distributes profits.
Cons

Cons

  • Risk of loss: All investments carry a level of risk, and the value of i-80 Gold stock can go down as well as up. If the company faces challenges or the gold market declines, your investment could lose value;
  • Market volatility: Stock prices can be volatile, with fluctuations driven by economic, industry, and company-specific factors. This volatility can lead to rapid changes in the stock’s value;
  • Research and monitoring: Successfully investing in stocks requires ongoing research, monitoring, and decision-making. If you’re not prepared to stay informed and make informed choices, stock investing may not be suitable for you.

i-80 Gold stock price today

What to avoid when investing in stocks

While investing in stocks can be rewarding, there are some common mistakes to avoid:

  • Emotional decision-making: Making investment decisions based on emotions, like fear or greed, can lead to poor choices. You should, therefore, stick to your investment strategy and avoid making impulsive moves;
  • Overconcentration: Placing too much of your investment capital in a single stock, like i-80 Gold, can expose you to higher risk. Instead, make sure you diversify your portfolio to spread risk across different assets;
  • Ignoring research: Failing to research a company thoroughly before investing can lead to uninformed decisions. So, take the time to understand the company’s financial health, management, and growth prospects.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy i-80 Gold stock in Canada

Can I buy i-80 Gold stock directly from the company?

No, individual investors typically purchase stocks through brokerage accounts like Interactive Brokers.

Is there a minimum amount required to invest in i-80 Gold stock?

The minimum investment amount can vary based on your chosen brokerage. However, some brokerages have no minimum requirement.

How do I stay updated on i-80 Gold's performance?

You should follow reputable financial news sources, monitor the company’s official website, and review its quarterly and annual reports.

What is the difference between buying i-80 Gold stock and investing in a gold ETF?

Buying i-80 Gold stock gives you direct ownership in the company, while a gold ETF (exchange-traded-fund) offers exposure to a basket of gold-related assets without directly owning shares in a gold mining company.

Best Platform for Worldwide Stock Trading & Investing

  • Highly trusted multi-asset broker with clients in over 200 countries

  • Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

  • Low commissions starting at $0 with no platform fees or account minimums

  • Easily fund your account and trade assets in 26 currencies

  • IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

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