Integra Resources (NYSEAMERICAN:ITRG) Shares Gap Up - Still a Buy?

Key Points

• Integra Resources Corp. (NYSEAMERICAN:ITRG) shares gapped up from $3.11 to $3.26 at market opening, currently trading around $3.20 with a volume of 470,454 shares.
• HC Wainwright reaffirmed a "buy" rating for Integra Resources, setting a target price of $3.25, while the stock currently holds an average Buy rating with the same price target.
• Institutional investors now own 26.67% of Integra Resources, with significant new stakes being acquired by firms including JPMorgan Chase & Co. and Millennium Management LLC.

Shares of Integra Resources Corp. (NYSEAMERICAN:ITRG - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $3.11, but opened at $3.26. Integra Resources shares last traded at $3.20, with a volume of 470,454 shares.

Wall Street Analysts Forecast Growth

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

Integra Resources Price Performance

The stock's fifty day moving average is $2.23 and its 200-day moving average is $1.78. The stock has a market capitalization of $532.35 million, a PE ratio of 52.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 1.24.

Institutional Trading of Integra Resources

A number of institutional investors and hedge funds have recently modified their holdings of ITRG. Cambridge Investment Research Advisors Inc. acquired a new position in Integra Resources during the first quarter worth about $30,000. Virtu Financial LLC acquired a new stake in shares of Integra Resources in the first quarter valued at approximately $34,000. Jane Street Group LLC acquired a new stake in shares of Integra Resources in the second quarter valued at approximately $48,000. JPMorgan Chase & Co. acquired a new stake in shares of Integra Resources in the second quarter valued at approximately $53,000. Finally, Millennium Management LLC acquired a new stake in shares of Integra Resources in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 26.67% of the company's stock.

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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