Integra Resources (NYSEAMERICAN:ITRG) Trading Down 9.1% - Should You Sell?

Key Points

• Shares fell 9.1% intraday to $2.7450 with about 1.57 million shares traded, roughly 43% below average volume after a prior close of $3.02.
• Analyst sentiment remains positive: three analysts rate ITRG a Buy with a consensus target of $7.75 (individual targets range from $7.00 to $9.25, with HC Wainwright recently trimming its target to $7.00).
• Company and financial profile: Integra Resources has a market cap of $532.3 million, very low debt (debt/equity 0.02) and a P/E of 29.46, and is advancing the DeLamar gold‑silver project in Idaho.

Shares of Integra Resources Corp. (NYSEAMERICAN:ITRG - Get Free Report) were down 9.1% on Thursday . The stock traded as low as $2.65 and last traded at $2.7450. Approximately 1,570,835 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 2,754,325 shares. The stock had previously closed at $3.02.

Wall Street Analyst Weigh In

ITRG has been the subject of several research analyst reports. HC Wainwright decreased their price target on shares of Integra Resources from $7.25 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. Roth Mkm set a $7.00 price objective on shares of Integra Resources in a report on Tuesday, January 27th. Finally, Canaccord Genuity Group started coverage on Integra Resources in a report on Monday, January 12th. They issued a "moderate buy" rating and a $9.25 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $7.75.

Integra Resources Stock Down 12.7%

The firm has a market capitalization of $532.30 million, a P/E ratio of 29.46 and a beta of 0.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a 50 day moving average of $3.87 and a 200-day moving average of $3.47.

Institutional Trading of Integra Resources

A number of institutional investors have recently added to or reduced their stakes in ITRG. Caitong International Asset Management Co. Ltd purchased a new stake in Integra Resources in the 4th quarter worth approximately $29,000. Independent Advisor Alliance purchased a new stake in Integra Resources in the fourth quarter worth approximately $40,000. Hohimer Wealth Management LLC purchased a new stake in shares of Integra Resources in the 4th quarter valued at $40,000. Brookstone Capital Management purchased a new stake in Integra Resources during the fourth quarter valued at about $41,000. Finally, Bank of America Corp DE boosted its holdings in Integra Resources by 336.4% during the 4th quarter. Bank of America Corp DE now owns 46,697 shares of the company's stock valued at $41,000 after acquiring an additional 35,997 shares during the period. Hedge funds and other institutional investors own 26.67% of the company's stock.

Integra Resources Company Profile

Integra Resources Corp. is a mineral exploration and development company focused on the acquisition, characterization and advancement of precious metals projects in North America. The company's flagship asset is the DeLamar Gold-Silver Project in southwestern Idaho, a historic mining district that produced both gold and silver from the late 19th century through the mid-20th century. Integra's business model emphasizes resource delineation, metallurgical optimization and progression through permitting and engineering phases toward potential production.

Since its incorporation in 2017, Integra Resources has undertaken multiple drilling campaigns and metallurgical studies aimed at upgrading and expanding the known mineral inventory at DeLamar.

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