Integra Resources Corp. $ITRG Stake Reduced by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments cut its Integra Resources stake by 47.6% in the third quarter, selling 1.34 million shares and retaining 1.48 million shares worth approximately $3.84 million.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating. Integra has a consensus rating of “Moderate Buy” and an average price target of $7.00.
• Integra shares fell 3.1% to $2.48, while the company’s latest quarterly results missed expectations on both earnings and revenue; analysts expect full-year EPS of $0.27.

Montrusco Bolton Investments Inc. lowered its holdings in Integra Resources Corp. (NYSEAMERICAN:ITRG - Free Report) by 47.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,476,686 shares of the company's stock after selling 1,343,708 shares during the period. Montrusco Bolton Investments Inc. owned about 0.73% of Integra Resources worth $3,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITRG. GTS Securities LLC bought a new stake in Integra Resources during the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Integra Resources in the 4th quarter valued at about $29,000. Tacita Capital Inc bought a new position in shares of Integra Resources in the 2nd quarter valued at about $31,000. Castleview Partners LLC grew its holdings in shares of Integra Resources by 23.1% in the 3rd quarter. Castleview Partners LLC now owns 32,000 shares of the company's stock valued at $82,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Integra Resources in the first quarter valued at about $124,000. 26.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Integra Resources Stock Down 3.1%

ITRG traded down $0.08 during trading on Tuesday, reaching $2.48. 2,115,895 shares of the stock were exchanged, compared to its average volume of 2,762,612. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.42 and a current ratio of 5.31. The stock's 50 day moving average price is $2.71 and its two-hundred day moving average price is $2.61. Integra Resources Corp. has a twelve month low of $1.99 and a twelve month high of $4.87. The stock has a market cap of $503.14 million, a P/E ratio of 62.02 and a beta of 0.86.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. The firm had revenue of $69.42 million during the quarter, compared to analyst estimates of $82.69 million. Equities analysts expect that Integra Resources Corp. will post 0.27 EPS for the current year.

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.

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