Integra Resources (NYSEAMERICAN:ITRG) Stock Rating Reaffirmed as Buy by HC Wainwright

Integra Resources (NYSEAMERICAN:ITRG)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $6.75 target price on the stock. HC Wainwright’s target price indicates a potential upside of 186.62% from the stock’s previous close.

Several other brokerages have also weighed in on ITRG. Zacks Research upgraded 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 objective on shares of Integra Resources in a research note on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.00.

Integra Resources Stock Performance

Shares of Integra Resources stock traded down $0.13 during trading hours on Wednesday, reaching $2.36. The company’s stock had a trading volume of 235,127 shares, compared to its average volume of 2,748,750. 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 one year low of $1.99 and a one year high of $4.87. The company’s 50 day simple moving average is $2.72 and its 200 day simple moving average is $2.61. The stock has a market cap of $477.78 million, a P/E ratio of 58.89 and a beta of 0.86.

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 the consensus estimate of $0.07 by ($0.01). The company 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, analysts expect that Integra Resources will post 0.27 EPS for the current fiscal year.

Institutional Trading of Integra Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GTS Securities LLC acquired a new position in Integra Resources during the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Integra Resources in the fourth quarter valued at approximately $29,000. Tacita Capital Inc bought a new position in Integra Resources during the second quarter worth about $31,000. Castleview Partners LLC lifted its holdings in shares of 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 position in shares of Integra Resources in the first quarter valued at approximately $124,000. 26.67% of the stock is currently owned by institutional investors and hedge funds.

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.