The Manufacturers Life Insurance Company Purchases New Stake in Integra Resources Corp. $ITRG

The Manufacturers Life Insurance Company acquired a new stake in shares of Integra Resources Corp. (NYSEAMERICAN:ITRG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,124,854 shares of the company’s stock, valued at approximately $2,505,000.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Integra Resources in the 4th quarter worth about $29,000. Tacita Capital Inc bought a new position in shares of Integra Resources during the second quarter worth about $31,000. Independent Advisor Alliance bought a new position in shares of Integra Resources during the fourth quarter worth about $40,000. Hohimer Wealth Management LLC acquired a new position in Integra Resources in the fourth quarter worth about $40,000. Finally, Bank of America Corp DE grew its stake in Integra Resources by 336.4% in the fourth quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock worth $41,000 after purchasing an additional 35,997 shares in the last quarter. 26.67% of the stock is owned by institutional investors and hedge funds.

Integra Resources Stock Up 5.3%

Shares of NYSEAMERICAN:ITRG opened at $2.80 on Thursday. The company’s fifty day moving average is $2.42 and its two-hundred day moving average is $2.78. 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 Corp. has a 1-year low of $1.99 and a 1-year high of $4.87. The stock has a market capitalization of $568.04 million, a price-to-earnings ratio of 70.02 and a beta of 0.91.

Integra Resources (NYSEAMERICAN:ITRG) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. The business had revenue of $69.42 million during the quarter, compared to analyst estimates of $82.69 million. Equities analysts anticipate that Integra Resources Corp. will post 0.28 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on ITRG. Roth Capital set a $5.00 price objective on Integra Resources in a research note on Monday, July 27th. HC Wainwright reiterated a “buy” rating and issued a $6.75 target price on shares of Integra Resources in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded Integra Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Integra Resources 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.