The Manufacturers Life Insurance Company Purchases Shares of 1,124,854 Integra Resources Corp. $ITRG

Key Points

• The Manufacturers Life Insurance Company acquired 1,124,854 Integra Resources shares worth approximately $2.5 million, representing a 0.55% stake. Institutional investors and hedge funds collectively own 26.67% of the company.
• Integra Resources shares opened at $2.80, between a 12-month low of $1.99 and high of $4.87. The company recently reported quarterly EPS of $0.06 and revenue of $69.42 million, both below analyst expectations.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $7.00.

The Manufacturers Life Insurance Company acquired a new position in Integra Resources Corp. (NYSEAMERICAN:ITRG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,124,854 shares of the company's stock, valued at approximately $2,505,000. The Manufacturers Life Insurance Company owned 0.55% of Integra Resources at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ITRG. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Integra Resources during the 4th quarter worth about $29,000. Tacita Capital Inc acquired a new position in Integra Resources during the second quarter valued at approximately $31,000. Independent Advisor Alliance acquired a new position in Integra Resources during the fourth quarter valued at approximately $40,000. Hohimer Wealth Management LLC purchased a new stake in Integra Resources during the fourth quarter worth approximately $40,000. Finally, Bank of America Corp DE grew its stake in Integra Resources by 336.4% during 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. 26.67% of the stock is owned by institutional investors and hedge funds.

Integra Resources Price Performance

Shares of ITRG stock opened at $2.80 on Thursday. The firm has a fifty day simple moving average of $2.42 and a 200-day simple moving average of $2.78. The company has a market capitalization of $568.04 million, a PE ratio of 70.02 and a beta of 0.91. Integra Resources Corp. has a twelve month low of $1.99 and a twelve month high of $4.87. The company has a current ratio of 5.31, a quick ratio of 3.42 and a debt-to-equity ratio of 0.08.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $69.42 million for the quarter, compared to analysts' expectations of $82.69 million. Integra Resources had a return on equity of 26.86% and a net margin of 4.14%. Equities research analysts anticipate that Integra Resources Corp. will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Integra Resources Company 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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