Integra Resources’ (ITRG) “Buy” Rating Reiterated at HC Wainwright

Integra Resources (NYSEAMERICAN:ITRG)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $6.75 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 172.18% from the company’s current price.

ITRG has been the subject of several other reports. Roth Capital set a $5.00 target price on Integra Resources in a research note on Monday, July 27th. Zacks Research upgraded Integra Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Integra Resources Stock Down 3.1%

Shares of NYSEAMERICAN:ITRG opened at $2.48 on Wednesday. The company has a market capitalization of $503.14 million, a P/E ratio of 62.02 and a beta of 0.86. The stock’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $2.61. Integra Resources has a 52-week low of $1.99 and a 52-week high of $4.87. The company has a quick ratio of 3.42, a current ratio of 5.31 and a debt-to-equity ratio of 0.08.

Integra Resources (NYSEAMERICAN:ITRG) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $69.42 million during the quarter, compared to analysts’ expectations of $82.69 million. Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. As a group, equities research analysts forecast that Integra Resources will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Integra Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Castleview Partners LLC raised its stake in shares of Integra Resources by 23.1% in the third quarter. Castleview Partners LLC now owns 32,000 shares of the company’s stock valued at $82,000 after acquiring an additional 6,000 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Integra Resources during the 4th quarter valued at about $29,000. Engineers Gate Manager LP grew its holdings in Integra Resources by 21.7% during the 2nd quarter. Engineers Gate Manager LP now owns 56,508 shares of the company’s stock worth $128,000 after acquiring an additional 10,093 shares during the period. GTS Securities LLC acquired a new position in Integra Resources in the second quarter valued at about $26,000. Finally, Tacita Capital Inc bought a new stake in Integra Resources in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 26.67% of the company’s stock.

About Integra Resources

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.