Integra Resources (NYSEAMERICAN:ITRG) Shares Gap Up – Here’s What Happened

Integra Resources Corp. (NYSEAMERICAN:ITRG) shares gapped up before the market opened on Tuesday . The stock had previously closed at $3.60, but opened at $3.87. Integra Resources shares last traded at $3.81, with a volume of 433,812 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HC Wainwright increased their price target on Integra Resources from $5.00 to $7.25 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Canaccord Genuity Group assumed coverage on Integra Resources in a research note on Monday, January 12th. They issued a “moderate buy” rating and a $9.25 target price on the stock. Finally, Roth Mkm set a $7.00 price target on shares of Integra Resources in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.83.

Integra Resources Stock Down 8.9%

The firm has a market cap of $615.59 million, a price-to-earnings ratio of 37.34 and a beta of 0.72. The stock’s 50 day moving average is $4.06 and its 200 day moving average is $3.06. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Independent Advisor Alliance acquired a new stake in Integra Resources in the 4th quarter valued at about $40,000. Brookstone Capital Management acquired a new stake in Integra Resources during the fourth quarter valued at approximately $41,000. Rathbones Group PLC boosted its holdings in Integra Resources by 33.9% during the second quarter. Rathbones Group PLC now owns 48,400 shares of the company’s stock worth $73,000 after buying an additional 12,250 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Integra Resources in the third quarter worth approximately $42,000. Finally, Pinion Investment Advisors LLC bought a new position in shares of Integra Resources in the fourth quarter valued at $55,000. 26.67% of the stock is owned by institutional investors and hedge funds.

About Integra Resources

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.