Integra Resources (NYSEAMERICAN:ITRG) Trading Up 7.3% – Should You Buy?

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s stock price was up 7.3% during trading on Friday . The stock traded as high as $3.55 and last traded at $3.5830. Approximately 418,062 shares changed hands during trading, a decline of 86% from the average daily volume of 2,903,219 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ITRG. Roth Mkm set a $7.00 price objective on Integra Resources in a report on Tuesday, January 27th. HC Wainwright raised their price target on Integra Resources from $5.00 to $7.25 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Canaccord Genuity Group began coverage on Integra Resources in a research report on Monday, January 12th. They set a “moderate buy” rating and a $9.25 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Integra Resources presently has a consensus rating of “Buy” and a consensus price target of $7.83.

Integra Resources Stock Up 6.7%

The business has a 50-day simple moving average of $4.06 and a two-hundred day simple moving average of $3.13. The company has a market capitalization of $653.14 million, a price-to-earnings ratio of 39.62 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.05 and a current ratio of 1.58.

Hedge Funds Weigh In On Integra Resources

Large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Integra Resources by 336.4% in the fourth quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock valued at $41,000 after acquiring an additional 35,997 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Integra Resources by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 316,549 shares of the company’s stock valued at $393,000 after buying an additional 66,002 shares during the period. Rathbones Group PLC boosted its stake in shares of Integra Resources by 33.9% in the second quarter. Rathbones Group PLC now owns 48,400 shares of the company’s stock valued at $73,000 after buying an additional 12,250 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Integra Resources in the second quarter worth $53,000. Finally, Franklin Resources Inc. lifted its holdings in Integra Resources by 0.8% in the second quarter. Franklin Resources Inc. now owns 11,865,543 shares of the company’s stock valued at $17,945,000 after acquiring an additional 100,000 shares during the period. 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.