Integra Resources (NYSEAMERICAN:ITRG) Shares Up 10.9% – Here’s Why

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s stock price was up 10.9% during trading on Thursday . The company traded as high as $2.50 and last traded at $2.4850. 2,531,566 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 2,966,656 shares. The stock had previously closed at $2.24.

Analyst Ratings Changes

Several equities research analysts have weighed in on ITRG shares. HC Wainwright reaffirmed a “buy” rating on shares of Integra Resources in a research note on Friday, June 26th. Roth Mkm restated a “buy” rating and issued a $6.00 target price on shares of Integra Resources in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Integra Resources currently has an average rating of “Buy” and an average target price of $7.33.

Integra Resources Price Performance

The company has a quick ratio of 3.17, a current ratio of 4.96 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $2.61 and a two-hundred day moving average price of $3.30. The company has a market capitalization of $487.66 million, a price-to-earnings ratio of 60.14 and a beta of 0.86.

Institutional Trading of Integra Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of 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 buying an additional 35,997 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Integra Resources by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 316,549 shares of the company’s stock worth $393,000 after acquiring an additional 66,002 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Integra Resources in the 2nd quarter valued at about $53,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Integra Resources during the 2nd quarter valued at about $7,106,000. Finally, Raymond James Financial Inc. increased its holdings in Integra Resources by 48.7% during the 2nd quarter. Raymond James Financial Inc. now owns 50,751 shares of the company’s stock worth $76,000 after purchasing an additional 16,611 shares in the last quarter. Institutional investors own 26.67% of the company’s stock.

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.