Integra Resources (NYSEAMERICAN:ITRG) Sets New 1-Year High - Time to Buy?

Key Points

• Integra Resources Corp. reached a new 52-week high of $3.09, closing at $2.99 with a trading volume of 212,815 shares.
• HC Wainwright has reiterated a "buy" rating for the stock with a price target set at $3.25, indicating positive sentiment from Wall Street analysts.
• Institutional investors hold 26.67% of Integra's stock, with notable recent acquisitions from firms like Jane Street Group and Bank of America Corp DE.

Integra Resources Corp. (NYSEAMERICAN:ITRG - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $3.09 and last traded at $2.99, with a volume of 212815 shares changing hands. The stock had previously closed at $2.93.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and issued a $3.25 price objective on shares of Integra Resources in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Integra Resources presently has an average rating of "Buy" and a consensus price target of $3.25.

Integra Resources Trading Up 4.4%

The stock has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $1.69. The company has a current ratio of 2.11, a quick ratio of 1.24 and a debt-to-equity ratio of 0.02. The company has a market cap of $517.14 million, a price-to-earnings ratio of 51.00 and a beta of 0.81.

Institutional Investors Weigh In On Integra Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITRG. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Integra Resources in the 1st quarter valued at about $30,000. Virtu Financial LLC purchased a new position in Integra Resources during the first quarter valued at approximately $34,000. Millennium Management LLC acquired a new position in Integra Resources in the fourth quarter valued at approximately $39,000. Bank of America Corp DE boosted its position in Integra Resources by 336.4% in the 4th 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 in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Integra Resources during the 4th quarter worth approximately $42,000. 26.67% of the stock is owned by institutional investors and hedge funds.

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.