Integra Resources (NYSEAMERICAN:ITRG) Upgraded at Zacks Research

Integra Resources (NYSEAMERICAN:ITRG) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on ITRG. 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. Roth Capital set a $5.00 target price on shares of Integra Resources in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Integra Resources Stock Performance

Shares of NYSEAMERICAN ITRG opened at $2.91 on Tuesday. The stock’s 50-day moving average is $2.40 and its 200 day moving average is $2.81. The stock has a market cap of $590.35 million, a price-to-earnings ratio of 72.77 and a beta of 0.86. Integra Resources has a 1-year low of $1.99 and a 1-year high of $4.87. 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 issued its 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 firm had revenue of $69.42 million during the quarter, compared to analysts’ expectations of $82.69 million. On average, sell-side analysts anticipate that Integra Resources will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Integra Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Integra Resources in the second quarter worth about $7,106,000. Montrusco Bolton Investments Inc. bought a new position in Integra Resources during the 1st quarter valued at approximately $7,195,000. BlackRock Inc. bought a new position in Integra Resources during the 2nd quarter valued at approximately $3,939,000. Renaissance Technologies LLC lifted its holdings in Integra Resources by 287.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock worth $5,725,000 after buying an additional 1,556,199 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Integra Resources by 60.9% in the 3rd quarter. Bank of America Corp DE now owns 3,806,494 shares of the company’s stock worth $11,229,000 after buying an additional 1,440,789 shares during the period. 26.67% of the stock is currently owned by institutional investors.

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.