Integra Resources (NYSEAMERICAN:ITRG) Shares Up 5.8% – Here’s Why

Shares of Integra Resources Corp. (NYSEAMERICAN:ITRG) rose 5.8% during trading on Friday . The company traded as high as $2.65 and last traded at $2.6550. Approximately 1,284,591 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 2,939,062 shares. The stock had previously closed at $2.51.

Analysts Set New Price Targets

ITRG has been the topic of a number of research reports. Roth Mkm set a $7.00 price target on Integra Resources in a research report on Tuesday, January 27th. Canaccord Genuity Group initiated coverage on Integra Resources in a research report on Monday, January 12th. They set a “moderate buy” rating and a $9.25 price objective for the company. Finally, HC Wainwright lowered their price objective on Integra Resources from $7.25 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $7.75.

Integra Resources Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a market capitalization of $522.20 million, a price-to-earnings ratio of -257.50 and a beta of 0.68. The business’s 50 day simple moving average is $3.70 and its 200-day simple moving average is $3.47.

Hedge Funds Weigh In On Integra Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Integra Resources in the 4th quarter valued at approximately $29,000. Independent Advisor Alliance acquired a new position in Integra Resources during the 4th quarter worth $40,000. Hohimer Wealth Management LLC bought a new position in shares of Integra Resources in the fourth quarter worth $40,000. Brookstone Capital Management acquired a new position in shares of Integra Resources during the fourth quarter valued at $41,000. Finally, Bank of America Corp DE increased its holdings in shares of Integra Resources by 336.4% during the fourth quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock valued at $41,000 after purchasing an additional 35,997 shares during the period. 26.67% of the stock is owned by institutional investors.

Integra Resources Company Profile

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.