Integra Resources (NYSEAMERICAN:ITRG) Trading Up 10.9% – Still a Buy?

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s share price rose 10.9% on Thursday . The stock traded as high as $2.50 and last traded at $2.4850. 2,531,566 shares changed hands during trading, a decline of 15% from the average session volume of 2,966,656 shares. The stock had previously closed at $2.24.

Analyst Ratings Changes

ITRG has been the subject of a number of recent analyst reports. Roth Mkm reiterated a “buy” rating and issued a $6.00 price objective on shares of Integra Resources in a research note on Monday, June 29th. HC Wainwright reissued a “buy” rating on shares of Integra Resources in a research report on Friday, June 26th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Integra Resources has a consensus rating of “Buy” and a consensus price target of $7.33.

Integra Resources Price Performance

The stock has a market cap of $490.70 million, a P/E ratio of 60.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.17 and a current ratio of 4.96. The business has a 50 day simple moving average of $2.58 and a 200-day simple moving average of $3.28.

Institutional Trading of Integra Resources

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Integra Resources in the second quarter worth about $7,106,000. Montrusco Bolton Investments Inc. bought a new position in shares of Integra Resources during the 1st quarter valued at approximately $7,195,000. Renaissance Technologies LLC grew its position in shares of Integra Resources by 287.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock valued at $5,725,000 after acquiring an additional 1,556,199 shares during the period. Bank of America Corp DE increased its stake in shares of Integra Resources by 60.9% during the 3rd quarter. Bank of America Corp DE now owns 3,806,494 shares of the company’s stock worth $11,229,000 after purchasing an additional 1,440,789 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Integra Resources by 175.7% during the 4th quarter. Millennium Management LLC now owns 1,954,804 shares of the company’s stock worth $7,850,000 after purchasing an additional 1,245,850 shares during the last quarter. Hedge funds and other institutional investors own 26.67% of the company’s stock.

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.