Integra Resources (NYSEAMERICAN:ITRG) Given Buy Rating at HC Wainwright

Key Points

• HC Wainwright reaffirmed its Buy rating on Integra Resources and set a $6.75 price target, implying 172.18% upside from the prior close. Analysts overall maintain a “Moderate Buy” consensus with a $7.00 target.
• Integra shares opened at $2.48 after falling 3.1%; the stock has traded between $1.99 and $4.87 over the past year. The company’s latest quarterly results missed expectations, reporting $0.06 in earnings per share versus a $0.07 estimate and revenue of $69.42 million versus $82.69 million expected.
• Institutional investors own 26.67% of the company, with several funds recently initiating or increasing positions. Integra is focused on developing its DeLamar gold and silver project in Idaho.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $6.75 price objective on the stock. HC Wainwright's price objective points to a potential upside of 172.18% from the company's previous close.

A number of other analysts have also recently weighed in on the company. Zacks Research raised Integra Resources from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Roth Capital set a $5.00 price objective on Integra Resources in a research report on Monday, July 27th. Three equities 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 has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.

Integra Resources Stock Down 3.1%

Integra Resources stock opened at $2.48 on Wednesday. Integra Resources has a twelve month low of $1.99 and a twelve month high of $4.87. The stock has a 50 day moving average of $2.72 and a two-hundred day moving average of $2.61. 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 stock has a market capitalization of $503.14 million, a price-to-earnings ratio of 62.02 and a beta of 0.86.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) last posted 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 company had revenue of $69.42 million for the quarter, compared to analyst estimates of $82.69 million. As a group, research analysts expect that Integra Resources will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Integra Resources

A number of large investors have recently modified their holdings of ITRG. GTS Securities LLC purchased a new position in shares of Integra Resources during the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new position in Integra Resources during the fourth quarter worth about $29,000. Tacita Capital Inc acquired a new position in Integra Resources during the second quarter worth about $31,000. Castleview Partners LLC grew its position in Integra Resources by 23.1% during the third quarter. Castleview Partners LLC now owns 32,000 shares of the company's stock worth $82,000 after buying an additional 6,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Integra Resources during the first quarter worth about $124,000. 26.67% of the stock is 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.