Integra Resources’ (ITRG) “Buy” Rating Reaffirmed at HC Wainwright

Integra Resources (NYSEAMERICAN:ITRG)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $6.75 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 192.21% from the stock’s previous close.

ITRG has been the subject of a number of other research reports. Zacks Research upgraded Integra Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Roth Capital set a $5.00 price objective on Integra Resources in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Integra Resources Stock Performance

Shares of ITRG stock traded down $0.17 during mid-day trading on Wednesday, reaching $2.31. The stock had a trading volume of 2,112,430 shares, compared to its average volume of 2,759,324. The firm’s 50 day simple moving average is $2.72 and its 200 day simple moving average is $2.61. The company has a quick ratio of 3.42, a current ratio of 5.31 and a debt-to-equity ratio of 0.08. Integra Resources has a one year low of $1.99 and a one year high of $4.87. The firm has a market cap of $468.65 million, a PE ratio of 57.76 and a beta of 0.86.

Integra Resources (NYSEAMERICAN:ITRG) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 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 the consensus estimate of $82.69 million. On average, analysts forecast that Integra Resources will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Integra Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Integra Resources during the 4th quarter worth approximately $29,000. GTS Securities LLC acquired a new stake in Integra Resources during the 2nd quarter valued at $26,000. Tacita Capital Inc acquired a new stake in Integra Resources during the 2nd quarter valued at $31,000. Castleview Partners LLC increased its holdings in Integra Resources by 23.1% during the 3rd quarter. Castleview Partners LLC now owns 32,000 shares of the company’s stock valued at $82,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Integra Resources during the 1st quarter valued at $124,000. Institutional investors own 26.67% of the company’s stock.

About Integra Resources

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.