Integra Resources (CVE:ITR) Trading Down 9% - Here's What Happened

Key Points

• Shares fell 9% intraday to as low as C$3.61 and last traded at C$3.75, on volume of ~907,514 shares (up 108% versus the 436,728 average) after a prior close of C$4.12.
• Analysts are broadly positive with a MarketBeat consensus of "Buy" and an average price target of C$8.75; recent upgrades/target raises include Canaccord (C$9.25), Raymond James (C$9.00) and Stifel (C$8.00).
• Integra is a precious‑metals exploration/development company (DeLamar, Wildcat, Mountain View) with a market cap of C$755.6M and a P/E of 25, and the stock is trading below its 50‑day (C$5.27) and 200‑day (C$4.78) moving averages.

Shares of Integra Resources Corp. (CVE:ITR - Get Free Report) were down 9% during mid-day trading on Thursday . The company traded as low as C$3.61 and last traded at C$3.75. Approximately 907,514 shares were traded during trading, an increase of 108% from the average daily volume of 436,728 shares. The stock had previously closed at C$4.12.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ITR. Stifel Nicolaus lifted their price target on shares of Integra Resources from C$7.00 to C$8.00 and gave the company a "buy" rating in a research report on Monday, December 22nd. Canaccord Genuity Group set a C$9.25 price target on Integra Resources and gave the company a "moderate buy" rating in a report on Monday, January 12th. Roth Mkm upgraded Integra Resources to a "strong-buy" rating in a research note on Monday, December 8th. Finally, Raymond James Financial raised their price objective on Integra Resources from C$8.00 to C$9.00 and gave the company an "outperform" rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$8.75.

Integra Resources Stock Down 9.0%

The company has a quick ratio of 1.49, a current ratio of 1.58 and a debt-to-equity ratio of 17.13. The firm has a market cap of C$755.58 million, a price-to-earnings ratio of 25.00 and a beta of 1.50. The stock's 50 day moving average is C$5.27 and its 200 day moving average is C$4.78.

Integra Resources Company Profile

Integra Resources Corp., a precious metals exploration and development company, engages in the acquisition, exploration, and development of mineral properties in the Great Basin of the Western United States. The company explores for gold and silver deposits. It primarily focuses on developing DeLamar Project located in southwestern Idaho; and the Wildcat and Mountain View Projects located in western Nevada. It also holds a portfolio of early-stage exploration projects in Idaho, Nevada, and Arizona.

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