Integra Resources Corp. $ITRG Shares Acquired by Royal Bank of Canada

Royal Bank of Canada increased its position in shares of Integra Resources Corp. (NYSEAMERICAN:ITRG) by 3,124.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,455 shares of the company’s stock after purchasing an additional 499,467 shares during the period. Royal Bank of Canada owned 0.25% of Integra Resources worth $1,407,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Integra Resources in the 4th quarter worth $29,000. Independent Advisor Alliance bought a new position in Integra Resources during the fourth quarter valued at about $40,000. Hohimer Wealth Management LLC bought a new position in Integra Resources during the fourth quarter valued at about $40,000. Bank of America Corp DE grew its holdings in Integra Resources by 336.4% during the fourth quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock worth $41,000 after acquiring an additional 35,997 shares during the period. Finally, Cetera Investment Advisers acquired a new position in Integra Resources during the fourth quarter worth about $46,000. 26.67% of the stock is currently owned by institutional investors and hedge funds.

Integra Resources Stock Performance

Shares of Integra Resources stock opened at $2.83 on Thursday. Integra Resources Corp. has a 12 month low of $1.83 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 stock has a market cap of $574.12 million, a PE ratio of 70.77 and a beta of 0.86. The business has a fifty day simple moving average of $2.37 and a 200-day simple moving average of $2.84.

Integra Resources (NYSEAMERICAN:ITRG) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. The business had revenue of $69.42 million for the quarter, compared to analyst estimates of $82.69 million. On average, sell-side analysts anticipate that Integra Resources Corp. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Integra Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. HC Wainwright reaffirmed a “buy” rating and issued a $6.75 price objective on shares of Integra Resources in a research note on Wednesday, August 12th. Finally, Roth Capital set a $5.00 price objective on shares of Integra Resources in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Integra Resources presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Integra Resources 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.