Masters Capital Management LLC Invests $2.73 Million in Integra Resources Corp. $ITRG

Key Points

• Masters Capital Management acquired 1 million Integra Resources shares worth approximately $2.73 million, representing a 0.49% stake. Institutional investors and hedge funds collectively own 26.67% of the company.
• Integra Resources shares opened at $2.16, with a 52-week range of $1.43 to $4.87 and a market capitalization of about $438 million. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with three Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and an average price target of $7.33.

Masters Capital Management LLC bought a new stake in Integra Resources Corp. (NYSEAMERICAN:ITRG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,000,000 shares of the company's stock, valued at approximately $2,730,000. Masters Capital Management LLC owned 0.49% of Integra Resources at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Integra Resources in the 4th quarter valued at $29,000. Independent Advisor Alliance purchased a new position in Integra Resources in the fourth quarter valued at about $40,000. Hohimer Wealth Management LLC acquired a new position in shares of Integra Resources during the fourth quarter worth about $40,000. Brookstone Capital Management purchased a new stake in shares of Integra Resources in the fourth quarter worth about $41,000. Finally, Bank of America Corp DE boosted its position 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 worth $41,000 after buying an additional 35,997 shares during the period. Institutional investors and hedge funds own 26.67% of the company's stock.

Integra Resources Stock Performance

Integra Resources stock opened at $2.16 on Monday. Integra Resources Corp. has a 52 week low of $1.43 and a 52 week high of $4.87. The company has a current ratio of 4.96, a quick ratio of 3.17 and a debt-to-equity ratio of 0.10. The stock has a market cap of $438.03 million, a P/E ratio of 54.01 and a beta of 0.85. The stock has a 50 day moving average of $2.39 and a 200-day moving average of $3.07.

Analyst Ratings Changes

ITRG has been the topic of several analyst reports. Roth Capital reiterated a "buy" rating and set a $6.00 target price on shares of Integra Resources in a report on Monday, June 29th. Zacks Research cut Integra Resources from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Integra Resources in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.33.

About Integra Resources

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.

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