HC Wainwright Lowers Integra Resources (NYSEAMERICAN:ITRG) Price Target to $7.00

Integra Resources (NYSEAMERICAN:ITRG) had its price target cut by research analysts at HC Wainwright from $7.25 to $7.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 72.41% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Canaccord Genuity Group initiated coverage on shares of Integra Resources in a report on Monday, January 12th. They issued a “moderate buy” rating and a $9.25 target price on the stock. Roth Mkm set a $7.00 price objective on shares of Integra Resources in a research report on Tuesday, January 27th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.75.

Integra Resources Trading Down 0.5%

ITRG opened at $4.06 on Tuesday. The business has a fifty day moving average price of $4.02 and a 200 day moving average price of $3.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.58 and a quick ratio of 1.05. Integra Resources has a 12 month low of $1.02 and a 12 month high of $4.87. The stock has a market capitalization of $743.83 million, a price-to-earnings ratio of 45.12 and a beta of 0.72.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ITRG. Independent Advisor Alliance acquired a new stake in shares of Integra Resources in the fourth quarter valued at approximately $40,000. Hohimer Wealth Management LLC acquired a new stake in Integra Resources during the 4th quarter worth $40,000. Brookstone Capital Management purchased a new position in Integra Resources during the 4th quarter worth $41,000. Bank of America Corp DE increased 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 during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Integra Resources in the third quarter valued at about $42,000. Hedge funds and other 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.