Integra Resources (NYSEAMERICAN:ITRG) Stock Price Up 11% – What’s Next?

Integra Resources Corp. (NYSEAMERICAN:ITRG) shares rose 11% on Wednesday . The stock traded as high as $2.81 and last traded at $2.8750. 1,005,326 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 2,964,581 shares. The stock had previously closed at $2.59.

Analysts Set New Price Targets

A number of research analysts have commented on ITRG shares. Roth Capital set a $5.00 price objective on Integra Resources in a report on Monday, July 27th. HC Wainwright reissued a “buy” rating and set a $6.75 target price on shares of Integra Resources in a report on Wednesday, August 12th. Finally, Zacks Research cut shares of Integra Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Integra Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Integra Resources Stock Performance

The stock’s 50-day simple moving average is $2.38 and its 200-day simple moving average is $2.83. The stock has a market cap of $576.15 million, a price-to-earnings ratio of 71.02 and a beta of 0.86. The company has a current ratio of 5.31, a quick ratio of 3.42 and a debt-to-equity ratio of 0.08.

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

Hedge Funds Weigh In On Integra Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Integra Resources by 39.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,578,187 shares of the company’s stock worth $19,195,000 after purchasing an additional 1,871,042 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Integra Resources by 2.8% in the second 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. Bank of America Corp DE raised its stake in Integra Resources by 60.9% in the third quarter. Bank of America Corp DE now owns 3,806,494 shares of the company’s stock valued at $11,229,000 after purchasing an additional 1,440,789 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in Integra Resources in the first quarter valued at about $7,195,000. Finally, Renaissance Technologies LLC raised its stake in Integra Resources by 287.8% in the first quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock valued at $5,725,000 after purchasing an additional 1,556,199 shares in the last quarter. 26.67% of the stock is owned by institutional investors and hedge funds.

Integra Resources Company 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.