1,131,851 Shares of Integra Resources Corp. $ITRG Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 1,131,851 shares of Integra Resources during the second quarter, worth approximately $2.57 million and representing 0.56% of the company. Institutional investors and hedge funds collectively own 26.67% of Integra’s stock.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating. Integra has a consensus price target of $7.00, compared with its recent price of $2.57.
• Integra reported quarterly revenue of $69.42 million and earnings of $0.06 per share, both below analyst expectations. The company is focused on developing gold and silver projects, led by its DeLamar Project in Idaho.

Bank of America Corp DE acquired a new stake in Integra Resources Corp. (NYSEAMERICAN:ITRG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,131,851 shares of the company's stock, valued at approximately $2,569,000. Bank of America Corp DE owned 0.56% of Integra Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Integra Resources in the fourth quarter worth approximately $29,000. Tacita Capital Inc acquired a new position in Integra Resources during the 2nd quarter worth about $31,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Integra Resources during the 1st quarter worth about $124,000. McAlvany Wealth Management LLC purchased a new position in Integra Resources during the 1st quarter valued at about $163,000. Finally, Virtus Advisers LLC acquired a new position in shares of Integra Resources in the second quarter valued at approximately $145,000. 26.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on ITRG shares. Zacks Research upgraded shares of Integra Resources from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Roth Capital set a $5.00 price objective on Integra Resources in a research report on Monday, July 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $6.75 price target on shares of Integra Resources in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Integra Resources currently has an average rating of "Moderate Buy" and a consensus target price of $7.00.

Integra Resources Price Performance

Shares of NYSEAMERICAN:ITRG opened at $2.57 on Thursday. The company's fifty day moving average price is $2.63 and its 200 day moving average price is $2.63. Integra Resources Corp. has a 12 month low of $1.99 and a 12 month high of $4.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.31 and a quick ratio of 3.42. The firm has a market capitalization of $521.40 million, a P/E ratio of 64.27 and a beta of 0.91.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. The company had revenue of $69.42 million during the quarter, compared to analyst estimates of $82.69 million. As a group, sell-side analysts predict that Integra Resources Corp. will post 0.28 earnings per share for the current fiscal year.

About Integra Resources

Integra Resources Corp. is a precious metals exploration and development company focused on advancing gold and silver projects in the western United States. The company is listed on the NYSE American under the symbol ITRG and on the TSX Venture Exchange under the symbol ITR.

Integra's principal asset is the DeLamar Project in Owyhee County, Idaho. The project consists of the historic DeLamar and Florida Mountain mining areas, which produced gold and silver in the past. Integra is working to define and expand mineral resources, conduct technical studies, and obtain the approvals needed to evaluate potential future development and production.

Following its acquisition of Millennial Precious Metals, Integra also holds exploration properties in Nevada, including the Wildcat and Mountain View projects.

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