Integra Resources (NYSEAMERICAN:ITRG) Upgraded to Hold at Zacks Research

Integra Resources (NYSEAMERICAN:ITRG) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on ITRG. HC Wainwright reaffirmed a “buy” rating and set a $6.75 target price on shares of Integra Resources in a report on Wednesday, August 12th. Roth Capital set a $5.00 price target on shares of Integra Resources in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Integra Resources has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Integra Resources Price Performance

Shares of NYSEAMERICAN ITRG opened at $2.91 on Tuesday. The stock has a fifty day moving average of $2.40 and a 200-day moving average of $2.81. The stock has a market cap of $590.35 million, a PE ratio of 72.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.42 and a current ratio of 5.31. Integra Resources has a fifty-two week low of $1.99 and a fifty-two week high of $4.87.

Integra Resources (NYSEAMERICAN:ITRG) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Integra Resources had a return on equity of 26.86% and a net margin of 4.14%.The firm had revenue of $69.42 million during the quarter, compared to analysts’ expectations of $82.69 million. Equities research analysts anticipate that Integra Resources will post 0.28 earnings per share for the current year.

Institutional Trading of Integra Resources

A number of large investors have recently modified their holdings of the business. Masters Capital Management LLC purchased a new position in Integra Resources in the 1st quarter worth approximately $2,730,000. Renaissance Technologies LLC increased its holdings in shares of Integra Resources by 287.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock worth $5,725,000 after buying an additional 1,556,199 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Integra Resources by 3,124.0% in the 1st quarter. Royal Bank of Canada now owns 515,455 shares of the company’s stock worth $1,407,000 after buying an additional 499,467 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of Integra Resources during the 1st quarter valued at $7,195,000. Finally, Navellier & Associates Inc. purchased a new stake in shares of Integra Resources during the 4th quarter valued at $817,000. Institutional investors own 26.67% of the company’s stock.

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.