Integra Resources (NYSEAMERICAN:ITRG) Shares Climb 4.8% - Time to Buy?

Key Points

• Integra Resources shares rose 4.8% to $2.525 during Friday’s trading, though volume was 84% below the average session level.
• Analyst sentiment is broadly positive: three analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $7.00.
• The company slightly missed quarterly expectations, reporting $0.06 in earnings per share versus $0.07 expected and revenue of $69.42 million versus $82.69 million estimated. Institutional investors own 26.67% of the stock, while Integra continues advancing its DeLamar gold and silver project in Idaho.

Integra Resources Corp. (NYSEAMERICAN:ITRG - Get Free Report)'s stock price traded up 4.8% during mid-day trading on Friday. The stock traded as high as $2.54 and last traded at $2.5250. Approximately 440,106 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,742,783 shares. The stock had previously closed at $2.41.

Analyst Ratings Changes

Several brokerages have commented on ITRG. Roth Capital set a $5.00 target price on shares of Integra Resources in a research note on Monday, July 27th. Zacks Research upgraded Integra Resources from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $6.75 price target on shares of Integra Resources in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Integra Resources currently has a consensus rating of "Moderate Buy" and an average target price of $7.00.

Integra Resources Trading Up 1.0%

The company has a market cap of $494.01 million, a P/E ratio of 60.89 and a beta of 0.86. The business's 50-day moving average price is $2.71 and its 200 day moving average price is $2.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.42 and a current ratio of 5.31.

Integra Resources (NYSEAMERICAN:ITRG - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The business had revenue of $69.42 million for the quarter, compared to analyst estimates of $82.69 million. Integra Resources had a return on equity of 26.86% and a net margin of 4.14%. As a group, analysts expect that Integra Resources Corp. will post 0.27 earnings per share for the current year.

Institutional Trading of Integra Resources

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in shares of Integra Resources by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 4,916,009 shares of the company's stock worth $11,150,000 after acquiring an additional 131,947 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in shares of Integra Resources during the first quarter worth $7,195,000. Renaissance Technologies LLC grew its position in Integra Resources by 287.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company's stock worth $5,725,000 after acquiring an additional 1,556,199 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Integra Resources by 44.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,502,772 shares of the company's stock worth $4,090,000 after purchasing an additional 460,011 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in Integra Resources during the 2nd quarter worth approximately $3,939,000. 26.67% of the stock is owned by institutional investors and hedge funds.

Integra Resources Company Profile

Integra Resources Corp. is a precious metals exploration and development company focused on advancing gold and silver projects in the United States. The company's primary asset is the DeLamar Project in southwestern Idaho, which includes the DeLamar and Florida Mountain deposits in Owyhee County.

DeLamar is a past-producing mining district with existing mineral resources and infrastructure from historical operations. Integra is evaluating the project's potential through exploration, technical studies, permitting and mine-development planning, with the goal of establishing a modern open-pit mining and processing operation.

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