Integra Resources (NYSEAMERICAN:ITRG) Shares Down 5.8% – Here’s What Happened

Integra Resources Corp. (NYSEAMERICAN:ITRG) shares were down 5.8% on Monday. The company traded as low as $2.58 and last traded at $2.59. 2,011,600 shares were traded during trading, an increase of 14% from the average daily volume of 1,760,676 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

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

Integra Resources Price Performance

The firm has a market capitalization of $525.46 million, a price-to-earnings ratio of 64.77 and a beta of 0.91. The company’s 50 day moving average is $2.62 and its 200-day moving average is $2.64. The company has a current ratio of 5.31, a quick ratio of 3.42 and a debt-to-equity ratio of 0.08.

Integra Resources (NYSEAMERICAN:ITRG) last announced its quarterly 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%. Equities research analysts anticipate that Integra Resources Corp. will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ITRG. Masters Capital Management LLC acquired a new stake in Integra Resources during the 1st quarter valued at $2,730,000. Renaissance Technologies LLC increased its holdings in shares of Integra Resources by 287.8% in the first quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock valued at $5,725,000 after purchasing an additional 1,556,199 shares during the last quarter. Pale Fire Capital SE bought a new position in shares of Integra Resources in the second quarter valued at about $2,395,000. BlackRock Inc. bought a new position in shares of Integra Resources in the second quarter valued at about $3,939,000. Finally, Royal Bank of Canada lifted its stake in shares of Integra Resources by 3,124.0% during the 1st quarter. Royal Bank of Canada now owns 515,455 shares of the company’s stock worth $1,407,000 after buying an additional 499,467 shares during the last quarter. 26.67% of the stock is currently owned by institutional investors.

Integra Resources Company Profile

Integra Resources Corp. is a precious metals exploration and development company focused on advancing gold and silver projects in the western United States. The company is listed on the NYSE American under the symbol ITRG and on the TSX Venture Exchange under the symbol ITR.

Integra’s principal asset is the DeLamar Project in Owyhee County, Idaho. The project consists of the historic DeLamar and Florida Mountain mining areas, which produced gold and silver in the past. Integra is working to define and expand mineral resources, conduct technical studies, and obtain the approvals needed to evaluate potential future development and production.

Following its acquisition of Millennial Precious Metals, Integra also holds exploration properties in Nevada, including the Wildcat and Mountain View projects.