Integra Resources (NYSEAMERICAN:ITRG) Hits New 52-Week High - Still a Buy?

Key Points

• Integra Resources Corp. recently reached a new 52-week high of $3.16 during trading, significantly up from a previous close of $2.95.
• HC Wainwright has maintained a buy rating on the stock, with an average target price of $3.25, highlighting a generally positive view from analysts.
• Institutional investors have shown increased interest in Integra Resources, with notable investments including a significant stake increase by Bank of America, which raised its holdings by 88.2% during the second quarter.

Integra Resources Corp. (NYSEAMERICAN:ITRG - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $3.16 and last traded at $3.16, with a volume of 669984 shares trading hands. The stock had previously closed at $2.95.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $3.25 target price on shares of Integra Resources in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $3.25.

Integra Resources Trading Up 5.3%

The company's fifty day moving average price is $2.17 and its two-hundred day moving average price is $1.76. 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 firm has a market cap of $524.75 million, a P/E ratio of 51.75 and a beta of 0.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Man Group plc acquired a new position in Integra Resources during the 2nd quarter worth about $149,000. Bank of America Corp DE lifted its position in Integra Resources by 88.2% during the 2nd quarter. Bank of America Corp DE now owns 2,365,705 shares of the company's stock worth $3,549,000 after buying an additional 1,108,570 shares in the last quarter. Jane Street Group LLC acquired a new position in Integra Resources during the 2nd quarter worth about $48,000. Raymond James Financial Inc. lifted its position in Integra Resources by 48.7% during the 2nd quarter. Raymond James Financial Inc. now owns 50,751 shares of the company's stock worth $76,000 after buying an additional 16,611 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Integra Resources during the 2nd quarter worth about $7,106,000. Institutional investors and hedge funds own 26.67% of the company's stock.

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.

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