Pale Fire Capital SE Makes New $2.40 Million Investment in Integra Resources Corp. $ITRG

Key Points

• Pale Fire Capital SE acquired 1,054,986 shares of Integra Resources worth approximately $2.40 million, giving it a 0.52% stake. Institutional investors collectively own 26.67% of the company.
• Integra Resources shares rose 5.3% to open at $2.80, within a 52-week range of $1.99 to $4.87. The company’s latest quarterly results missed estimates, reporting $0.06 in EPS versus $0.07 expected and revenue of $69.42 million versus $82.69 million expected.
• Analyst sentiment remains favorable, with three Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $7.00.

Pale Fire Capital SE bought a new stake in Integra Resources Corp. (NYSEAMERICAN:ITRG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,054,986 shares of the company's stock, valued at approximately $2,395,000. Pale Fire Capital SE owned 0.52% of Integra Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. StoneX Group Inc. boosted its position in Integra Resources by 39.4% during the 4th quarter. StoneX Group Inc. now owns 15,965 shares of the company's stock worth $64,000 after purchasing an additional 4,515 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Integra Resources in the fourth quarter valued at about $29,000. Jane Street Group LLC lifted its stake in shares of Integra Resources by 5.4% during the fourth quarter. Jane Street Group LLC now owns 171,694 shares of the company's stock worth $688,000 after purchasing an additional 8,724 shares in the last quarter. Independent Advisor Alliance acquired a new position in shares of Integra Resources during the fourth quarter worth about $40,000. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Integra Resources in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 26.67% of the company's stock.

Integra Resources Stock Up 5.3%

Shares of NYSEAMERICAN ITRG opened at $2.80 on Thursday. Integra Resources Corp. has a 1 year low of $1.99 and a 1 year high of $4.87. The firm has a market cap of $568.04 million, a price-to-earnings ratio of 70.02 and a beta of 0.91. 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 simple moving average is $2.42 and its 200-day simple moving average is $2.78.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) last issued 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 business had revenue of $69.42 million during the quarter, compared to analysts' expectations of $82.69 million. As a group, equities analysts anticipate that Integra Resources Corp. will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Integra Resources Profile

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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