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

Integra Resources (NYSEAMERICAN:ITRG)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $6.75 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 172.18% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Zacks Research raised shares of Integra Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Roth Capital set a $5.00 price target on shares of Integra Resources in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Integra Resources Price Performance

Shares of Integra Resources stock opened at $2.48 on Wednesday. The firm has a market cap of $503.14 million, a PE ratio of 62.02 and a beta of 0.86. Integra Resources has a 12-month low of $1.99 and a 12-month high of $4.87. The company has a quick ratio of 3.42, a current ratio of 5.31 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $2.72 and its two-hundred day simple moving average is $2.61.

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). The firm had revenue of $69.42 million during the quarter, compared to the consensus estimate of $82.69 million. Integra Resources had a return on equity of 26.86% and a net margin of 4.14%. As a group, equities analysts expect that Integra Resources will post 0.27 EPS for the current year.

Institutional Investors Weigh In On Integra Resources

Several institutional investors and hedge funds have recently modified their holdings of ITRG. Castleview Partners LLC lifted its position in shares of Integra Resources by 23.1% in the 3rd quarter. Castleview Partners LLC now owns 32,000 shares of the company’s stock worth $82,000 after purchasing an additional 6,000 shares during the period. Engineers Gate Manager LP lifted its position in shares of Integra Resources by 21.7% in the 2nd quarter. Engineers Gate Manager LP now owns 56,508 shares of the company’s stock worth $128,000 after purchasing an additional 10,093 shares during the period. Pale Fire Capital SE purchased a new stake in shares of Integra Resources in the 2nd quarter worth about $2,395,000. GTS Securities LLC purchased a new stake in shares of Integra Resources in the 2nd quarter worth about $26,000. Finally, Van ECK Associates Corp lifted its position in shares of Integra Resources by 2.8% in the 2nd quarter. Van ECK Associates Corp now owns 4,916,009 shares of the company’s stock worth $11,150,000 after purchasing an additional 131,947 shares during the period. 26.67% of the stock is owned by hedge funds and other institutional investors.

Integra Resources Company Profile

Integra Resources Corp. is a precious metals exploration and development company focused on advancing gold and silver projects in the United States. The company’s primary asset is the DeLamar Project in southwestern Idaho, which includes the DeLamar and Florida Mountain deposits in Owyhee County.

DeLamar is a past-producing mining district with existing mineral resources and infrastructure from historical operations. Integra is evaluating the project’s potential through exploration, technical studies, permitting and mine-development planning, with the goal of establishing a modern open-pit mining and processing operation.