Integra Resources (NYSEAMERICAN:ITRG) Shares Up 5.8% – Here’s Why

Integra Resources Corp. (NYSEAMERICAN:ITRG) was up 5.8% on Friday . The stock traded as high as $2.65 and last traded at $2.6550. Approximately 1,284,591 shares changed hands during trading, a decline of 56% from the average daily volume of 2,939,062 shares. The stock had previously closed at $2.51.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITRG shares. Canaccord Genuity Group started coverage on Integra Resources in a research note on Monday, January 12th. They issued a “moderate buy” rating and a $9.25 price objective for the company. Roth Mkm set a $7.00 target price on Integra Resources in a research report on Tuesday, January 27th. Finally, HC Wainwright cut their target price on Integra Resources from $7.25 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Integra Resources has a consensus rating of “Buy” and an average target price of $7.75.

Integra Resources Stock Performance

The company has a current ratio of 3.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $3.67 and its 200 day moving average is $3.48. The stock has a market capitalization of $517.15 million, a PE ratio of -256.00 and a beta of 0.68.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ITRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought 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 holdings in Integra Resources by 60.9% during the 3rd quarter. Bank of America Corp DE now owns 3,806,494 shares of the company’s stock valued at $11,229,000 after acquiring an additional 1,440,789 shares during the period. Millennium Management LLC boosted its holdings in Integra Resources by 175.7% during the 4th quarter. Millennium Management LLC now owns 1,954,804 shares of the company’s stock valued at $7,850,000 after acquiring an additional 1,245,850 shares during the period. U S Global Investors Inc. grew its position in Integra Resources by 824.1% in the 4th quarter. U S Global Investors Inc. now owns 1,386,127 shares of the company’s stock valued at $5,558,000 after acquiring an additional 1,236,127 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Integra Resources by 986.2% in the 3rd quarter. Two Sigma Investments LP now owns 938,394 shares of the company’s stock valued at $2,768,000 after acquiring an additional 852,003 shares during the last quarter. 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.