HC Wainwright Reaffirms Buy Rating for Integra Resources (NYSEAMERICAN:ITRG)

Integra Resources (NYSEAMERICAN:ITRG)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $6.75 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 159.62% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Integra Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Roth Capital set a $5.00 target price on shares of Integra Resources in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Integra Resources Stock Performance

Shares of NYSEAMERICAN:ITRG opened at $2.60 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.96 and a quick ratio of 3.17. Integra Resources has a 12 month low of $1.62 and a 12 month high of $4.87. The firm has a market capitalization of $527.46 million, a PE ratio of 65.02 and a beta of 0.86. The business has a 50-day moving average of $2.34 and a two-hundred day moving average of $2.91.

Institutional Investors Weigh In On Integra Resources

Several hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Integra Resources during the 4th quarter worth approximately $29,000. Tacita Capital Inc acquired a new stake in Integra Resources in the second quarter valued at approximately $31,000. Independent Advisor Alliance acquired a new stake in Integra Resources in the fourth quarter valued at approximately $40,000. Hohimer Wealth Management LLC purchased a new stake in shares of Integra Resources during the fourth quarter valued at approximately $40,000. Finally, Bank of America Corp DE raised its stake 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 currently owned by hedge funds and other 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.