Integra Resources (NYSEAMERICAN:ITRG) Stock Price Down 3.9% - Should You Sell?

Key Points

• Integra Resources Corp. (ITRG) shares fell by 3.9%, trading at $3.12 after closing at $3.24, with a significant decline in trading volume.
• HC Wainwright has reaffirmed a buy rating with a price target of $3.25, suggesting that analysts maintain a positive outlook on the stock.
• Institutional investors have shown interest, with firms like Bank of America raising their stakes significantly during the second quarter.

Integra Resources Corp. (NYSEAMERICAN:ITRG - Get Free Report) shares traded down 3.9% during mid-day trading on Thursday . The stock traded as low as $3.14 and last traded at $3.12. 338,362 shares changed hands during trading, a decline of 70% from the average session volume of 1,138,399 shares. The stock had previously closed at $3.24.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a "buy" rating and set a $3.25 price objective 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 an average rating of "Buy" and an average price target of $3.25.

Integra Resources Stock Down 4.9%

The company's 50-day simple moving average is $2.37 and its 200 day simple moving average is $1.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 1.24. The firm has a market cap of $520.77 million, a P/E ratio of 51.33 and a beta of 0.84.

Institutional Investors Weigh In On Integra Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Integra Resources in the 2nd quarter worth approximately $7,106,000. Bank of America Corp DE lifted its position in Integra Resources by 88.2% in the second 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 during the last quarter. Equinox Partners Investment Management LLC boosted its stake in Integra Resources by 6.9% during the first quarter. Equinox Partners Investment Management LLC now owns 9,825,138 shares of the company's stock worth $12,223,000 after buying an additional 635,000 shares during the period. U S Global Investors Inc. purchased a new stake in shares of Integra Resources in the second quarter valued at $225,000. Finally, Medici Capital LLC bought a new stake in shares of Integra Resources in the 2nd quarter worth about $184,000. 26.67% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.