Integra Resources (NYSEAMERICAN:ITRG) Stock Price Target Cut by Roth Capital

Key Points

• Roth Capital cut Integra Resources’ price target from $5.00 to $3.75 but maintained its Buy rating; the new target implies about 108% upside from the cited share price.
• Analyst views are mixed: MarketBeat reports a consensus Hold rating and an average price target of $6.50, with three Buy, one Hold, and one Sell rating.
• Integra reported quarterly earnings of $0.06 per share, matching estimates, and revenue of $72.4 million, above the $71.37 million forecast. Shares were down 2.1% in Friday midday trading at $1.80.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) had its target price reduced by research analysts at Roth Capital from $5.00 to $3.75 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. Roth Capital's target price would suggest a potential upside of 108.22% from the stock's current price.

ITRG has been the topic of a number of other research reports. Zacks Research upgraded shares of Integra Resources from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. HC Wainwright dropped their price target on shares of Integra Resources from $6.75 to $6.50 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Finally, Citigroup reiterated a "reduce" rating on shares of Integra Resources in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.50.

Integra Resources Stock Down 2.1%

ITRG stock traded down $0.04 during midday trading on Friday, reaching $1.80. 307,289 shares of the company's stock traded hands, compared to its average volume of 2,641,801. The company has a market cap of $365.39 million, a price-to-earnings ratio of 12.07 and a beta of 0.88. The firm's fifty day moving average price is $2.49 and its 200-day moving average price is $2.78. 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 has a 52 week low of $1.82 and a 52 week high of $4.87.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) last released its quarterly earnings data on Wednesday, November 11th. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. The firm had revenue of $72.40 million for the quarter, compared to analyst estimates of $71.37 million. Integra Resources had a net margin of 12.21% and a return on equity of 22.51%. As a group, sell-side analysts forecast that Integra Resources will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Integra Resources

Several institutional investors and hedge funds have recently made changes to their positions in ITRG. State Street Corp lifted its position in shares of Integra Resources by 20.8% during the third quarter. State Street Corp now owns 114,861 shares of the company's stock valued at $295,000 after purchasing an additional 19,760 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Integra Resources by 97.1% during the third quarter. Cibc World Market Inc. now owns 278,502 shares of the company's stock worth $722,000 after purchasing an additional 137,204 shares during the last quarter. Virtus Advisers LLC grew its position in Integra Resources by 24.9% in the 3rd quarter. Virtus Advisers LLC now owns 79,643 shares of the company's stock worth $205,000 after purchasing an additional 15,891 shares in the last quarter. U S Global Investors Inc. bought a new stake in Integra Resources in the 3rd quarter worth about $6,173,000. Finally, Castleview Partners LLC grew its position in Integra Resources by 23.1% in the 3rd quarter. Castleview Partners LLC now owns 32,000 shares of the company's stock worth $82,000 after purchasing an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 26.67% of the company's stock.

Integra Resources Company Profile

Integra Resources Corp. is a Canadian mining company focused on exploring, developing and operating precious-metals projects in the western United States. Its activities include gold and silver production, project development and mineral exploration. The company operates the Florida Canyon Mine in Nevada and is advancing the DeLamar project in Idaho, a gold-and-silver development project. Integra also holds exploration properties in Nevada, including the Wildcat and Mountain View projects. Integra expanded its portfolio through its 2024 acquisition of Florida Canyon Gold, which brought the Florida Canyon operation into the company.

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