Integra Resources (NYSEAMERICAN:ITRG) Trading Down 10.1% – Should You Sell?

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s stock price traded down 10.1% during mid-day trading on Monday . The company traded as low as $4.06 and last traded at $4.0350. 573,545 shares traded hands during trading, a decline of 57% from the average session volume of 1,349,316 shares. The stock had previously closed at $4.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ITRG shares. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price (up previously from $4.75) on shares of Integra Resources in a report on Friday, December 19th. Roth Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Integra Resources in a research note on Thursday, December 18th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Integra Resources has an average rating of “Buy” and an average target price of $5.50.

Integra Resources Stock Down 8.8%

The stock’s 50-day simple moving average is $3.40 and its 200-day simple moving average is $2.57. The firm has a market capitalization of $693.28 million, a P/E ratio of 45.39 and a beta of 0.80. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On Integra Resources

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of Integra Resources by 0.8% during the 2nd quarter. Franklin Resources Inc. now owns 11,865,543 shares of the company’s stock valued at $17,945,000 after buying an additional 100,000 shares in the last quarter. Equinox Partners Investment Management LLC grew its position in shares of Integra Resources by 6.9% in the 1st quarter. Equinox Partners Investment Management LLC now owns 9,825,138 shares of the company’s stock worth $12,223,000 after buying an additional 635,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Integra Resources by 39.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,578,187 shares of the company’s stock valued at $19,195,000 after purchasing an additional 1,871,042 shares during the period. Bank of America Corp DE lifted its holdings in Integra Resources by 60.9% in the third 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. Finally, Two Sigma Investments LP boosted its position in shares of Integra Resources by 986.2% during the third quarter. Two Sigma Investments LP now owns 938,394 shares of the company’s stock valued at $2,768,000 after purchasing an additional 852,003 shares in the last quarter. Institutional investors own 26.67% of the company’s stock.

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.