Royal Bank of Canada Has $1.41 Million Stock Holdings in Integra Resources Corp. $ITRG

Royal Bank of Canada raised its stake in shares of Integra Resources Corp. (NYSEAMERICAN:ITRG) by 3,124.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 515,455 shares of the company’s stock after buying an additional 499,467 shares during the period. Royal Bank of Canada’s holdings in Integra Resources were worth $1,407,000 as of its most recent SEC filing.

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

Integra Resources Price Performance

NYSEAMERICAN ITRG opened at $2.83 on Thursday. Integra Resources Corp. has a fifty-two week low of $1.83 and a fifty-two week high of $4.87. The stock’s 50-day moving average is $2.37 and its two-hundred day moving average is $2.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.31 and a quick ratio of 3.42. The firm has a market cap of $574.12 million, a P/E ratio of 70.77 and a beta of 0.86.

Integra Resources (NYSEAMERICAN:ITRG) last released 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). Integra Resources had a return on equity of 26.86% and a net margin of 4.14%.The company had revenue of $69.42 million for the quarter, compared to the consensus estimate of $82.69 million. On average, analysts anticipate that Integra Resources Corp. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Integra Resources

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.