Integra Resources' (ITRG) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Integra Resources and maintained a $6.75 price target, implying 159.62% potential upside from the prior close.
• Analyst sentiment is mixed but leans positive: three analysts rate the stock a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and average price target of $7.00.
• Integra Resources opened at $2.60, with institutional investors owning 26.67% of the company; recent holders included Bank of America, which increased its stake by 336.4%.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $6.75 price target on the stock. HC Wainwright's price target suggests a potential upside of 159.62% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of Integra Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 16th. Roth Capital set a $5.00 target price on shares of Integra Resources in a research note on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.00.

Integra Resources Stock Down 1.5%

ITRG opened at $2.60 on Wednesday. The firm has a market cap of $527.46 million, a P/E ratio of 65.02 and a beta of 0.86. The business's fifty day simple moving average is $2.34 and its 200 day simple moving average is $2.91. Integra Resources has a 52 week low of $1.62 and a 52 week high of $4.87. The company has a quick ratio of 3.17, a current ratio of 4.96 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Integra Resources during the 4th quarter worth about $29,000. Tacita Capital Inc purchased a new stake in Integra Resources in the second quarter valued at approximately $31,000. Independent Advisor Alliance acquired a new position in Integra Resources during the fourth quarter worth approximately $40,000. Hohimer Wealth Management LLC acquired a new position in Integra Resources during the fourth quarter worth approximately $40,000. Finally, Bank of America Corp DE raised 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 purchasing an additional 35,997 shares during the period. Institutional investors and hedge funds own 26.67% of the company's stock.

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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