Integra Resources (NYSEAMERICAN:ITRG) Shares Down 5.5% - Time to Sell?

Key Points

• Integra Resources Corp. (NYSEAMERICAN:ITRG) shares declined by 5.5% during mid-day trading, closing at $3.00, with a notable 41% drop in trading volume compared to the average session.
• HC Wainwright maintained a "buy" rating on Integra Resources, setting a price target of $3.25, with the stock receiving a consensus "buy" rating.
• Institutional investors have recently increased their stakes in Integra Resources, with Rathbones Group PLC and Raymond James Financial Inc. among those significantly boosting their ownership in the second quarter.

Integra Resources Corp. (NYSEAMERICAN:ITRG - Get Free Report) fell 5.5% during mid-day trading on Thursday . The stock traded as low as $3.08 and last traded at $3.00. 658,969 shares traded hands during trading, a decline of 41% from the average session volume of 1,113,756 shares. The stock had previously closed at $3.17.

Wall Street Analyst Weigh In

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

Integra Resources Price Performance

The company has a market capitalization of $515.62 million, a P/E ratio of 50.75 and a beta of 0.84. The company has a fifty day moving average price of $2.20 and a 200 day moving average price of $1.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 1.24.

Hedge Funds Weigh In On Integra Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rathbones Group PLC lifted its position in Integra Resources by 33.9% in the second quarter. Rathbones Group PLC now owns 48,400 shares of the company's stock worth $73,000 after purchasing an additional 12,250 shares during the period. Raymond James Financial Inc. lifted its position in Integra Resources by 48.7% in the second quarter. Raymond James Financial Inc. now owns 50,751 shares of the company's stock worth $76,000 after purchasing an additional 16,611 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Integra Resources in the first quarter worth approximately $30,000. Virtu Financial LLC acquired a new stake in Integra Resources in the first quarter worth approximately $34,000. Finally, Jane Street Group LLC acquired a new stake in Integra Resources in the second quarter worth approximately $48,000. 26.67% of the stock is owned by institutional investors.

About Integra Resources

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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