Integra Resources (NYSEAMERICAN:ITRG) Hits New 1-Year High – Still a Buy?

Integra Resources Corp. (NYSEAMERICAN:ITRG) shares reached a new 52-week high on Monday . The stock traded as high as $4.87 and last traded at $4.7830, with a volume of 790719 shares traded. The stock had previously closed at $4.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ITRG shares. Roth Mkm restated a “buy” rating and issued a $6.50 target price on shares of Integra Resources in a research note on Wednesday, January 14th. Canaccord Genuity Group started coverage on Integra Resources in a research report on Monday, January 12th. They set a “moderate buy” rating and a $9.25 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price (up from $4.75) on shares of Integra Resources in a research report on Friday, December 19th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $6.92.

Integra Resources Stock Up 0.6%

The company has a market cap of $849.91 million, a price-to-earnings ratio of 51.73 and a beta of 0.75. The stock has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $2.93. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02.

Institutional Trading of Integra Resources

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Integra Resources during the second quarter valued at approximately $7,106,000. Bank of America Corp DE boosted its stake in Integra Resources by 60.9% during 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 buying an additional 1,440,789 shares in the last quarter. Two Sigma Investments LP grew its holdings in Integra Resources by 986.2% during the third quarter. Two Sigma Investments LP now owns 938,394 shares of the company’s stock worth $2,768,000 after acquiring an additional 852,003 shares during the period. Millennium Management LLC raised its position in Integra Resources by 58.0% in the third quarter. Millennium Management LLC now owns 708,954 shares of the company’s stock worth $2,083,000 after acquiring an additional 260,157 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Integra Resources in the third quarter worth about $673,000. 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.