Integra Resources (NYSEAMERICAN:ITRG) Stock Price Down 10.1% – Time to Sell?

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s share price dropped 10.1% during trading on Monday . The stock traded as low as $4.06 and last traded at $4.0350. Approximately 573,545 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,349,316 shares. The stock had previously closed at $4.49.

Wall Street Analysts Forecast Growth

ITRG has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target (up from $4.75) on shares of Integra Resources in a research note on Friday, December 19th. Roth Capital reissued a “buy” rating and issued a $6.00 target price on shares of Integra Resources in a report on Thursday, December 18th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $5.50.

Integra Resources Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market capitalization of $693.28 million, a P/E ratio of 45.39 and a beta of 0.80. The firm has a 50-day moving average price of $3.40 and a two-hundred day moving average price of $2.57.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Medici Capital LLC acquired a new position in shares of Integra Resources in the 2nd quarter valued at $184,000. Franklin Resources Inc. grew its stake in Integra Resources by 0.8% during the 2nd quarter. Franklin Resources Inc. now owns 11,865,543 shares of the company’s stock valued at $17,945,000 after purchasing an additional 100,000 shares during the last quarter. U S Global Investors Inc. purchased a new position in shares of Integra Resources in the second quarter worth about $225,000. Equinox Partners Investment Management LLC raised its stake in shares of Integra Resources by 6.9% in the first quarter. Equinox Partners Investment Management LLC now owns 9,825,138 shares of the company’s stock worth $12,223,000 after purchasing an additional 635,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Integra Resources by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 316,549 shares of the company’s stock worth $393,000 after purchasing an additional 66,002 shares during the period. 26.67% of the stock is owned by institutional investors and hedge funds.

About Integra Resources

Integra Resources Corp. is a mineral exploration and development company focused on the acquisition, characterization and advancement of precious metals projects in North America. The company’s flagship asset is the DeLamar Gold-Silver Project in southwestern Idaho, a historic mining district that produced both gold and silver from the late 19th century through the mid-20th century. Integra’s business model emphasizes resource delineation, metallurgical optimization and progression through permitting and engineering phases toward potential production.

Since its incorporation in 2017, Integra Resources has undertaken multiple drilling campaigns and metallurgical studies aimed at upgrading and expanding the known mineral inventory at DeLamar.