HC Wainwright Reaffirms “Buy” Rating for Integra Resources (NYSEAMERICAN:ITRG)

Integra Resources (NYSEAMERICAN:ITRG)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $6.75 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 172.18% from the stock’s previous close.

A number of other research firms have also recently commented on ITRG. Roth Capital set a $5.00 price objective on Integra Resources in a report on Monday, July 27th. Zacks Research raised Integra Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Integra Resources currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Integra Resources Price Performance

Integra Resources stock opened at $2.48 on Wednesday. The company has a current ratio of 5.31, a quick ratio of 3.42 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $2.72 and a 200 day moving average price of $2.61. Integra Resources has a 12-month low of $1.99 and a 12-month high of $4.87. The stock has a market cap of $503.14 million, a P/E ratio of 62.02 and a beta of 0.86.

Integra Resources (NYSEAMERICAN:ITRG) last posted its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. The firm had revenue of $69.42 million during the quarter, compared to analyst estimates of $82.69 million. Sell-side analysts anticipate that Integra Resources will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On Integra Resources

A number of institutional investors and hedge funds have recently made changes to their positions in ITRG. Van ECK Associates Corp boosted its position in shares of Integra Resources by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,916,009 shares of the company’s stock worth $11,150,000 after purchasing an additional 131,947 shares during the period. Montrusco Bolton Investments Inc. purchased a new stake in Integra Resources in the first quarter valued at approximately $7,195,000. Renaissance Technologies LLC raised its position in Integra Resources by 287.8% in the first quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock valued at $5,725,000 after purchasing an additional 1,556,199 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Integra Resources by 44.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,502,772 shares of the company’s stock worth $4,090,000 after purchasing an additional 460,011 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in Integra Resources during the second quarter worth $3,939,000. 26.67% of the stock is owned by hedge funds and other institutional investors.

Integra Resources Company Profile

Integra Resources Corp. is a precious metals exploration and development company focused on advancing gold and silver projects in the United States. The company’s primary asset is the DeLamar Project in southwestern Idaho, which includes the DeLamar and Florida Mountain deposits in Owyhee County.

DeLamar is a past-producing mining district with existing mineral resources and infrastructure from historical operations. Integra is evaluating the project’s potential through exploration, technical studies, permitting and mine-development planning, with the goal of establishing a modern open-pit mining and processing operation.