Integra Resources (NYSEAMERICAN:ITRG) Stock Rating Reaffirmed as Buy by HC Wainwright

Integra Resources (NYSEAMERICAN:ITRG)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $6.75 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 177.78% from the company’s current price.

ITRG has been the topic of a number of other research reports. 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 report on Tuesday, August 25th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Integra Resources currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Integra Resources Price Performance

ITRG stock traded up $0.02 on Wednesday, reaching $2.43. 1,360,117 shares of the company’s stock were exchanged, compared to its average volume of 2,748,068. The stock has a fifty day moving average of $2.71 and a 200-day moving average of $2.61. Integra Resources has a twelve month low of $1.99 and a twelve month high of $4.87. The firm has a market cap of $493.00 million, a PE ratio of 60.77 and a beta of 0.86. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Integra Resources had a return on equity of 26.86% and a net margin of 4.14%. The business had revenue of $69.42 million for the quarter, compared to analyst estimates of $82.69 million. As a group, equities analysts predict that Integra Resources will post 0.27 EPS for the current fiscal year.

Institutional Trading of Integra Resources

A number of institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Integra Resources by 2.8% during the second 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 in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in Integra Resources during the first quarter worth $7,195,000. Renaissance Technologies LLC boosted its position in Integra Resources by 287.8% during the first quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock worth $5,725,000 after purchasing an additional 1,556,199 shares in the last quarter. BlackRock Inc. purchased a new stake in Integra Resources during the second quarter worth $3,939,000. Finally, Arrowstreet Capital Limited Partnership boosted its position 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. 26.67% of the stock is currently owned by hedge funds and other institutional investors.

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.