Integra Resources (NYSEAMERICAN:ITRG) Stock Price Target Lowered at HC Wainwright

Integra Resources (NYSEAMERICAN:ITRG) had its price target dropped by investment analysts at HC Wainwright from $6.75 to $6.50 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright‘s price target suggests a potential upside of 193.45% from the stock’s previous close.

Several other analysts have also issued reports on ITRG. Roth Capital set a $5.00 price target on shares of Integra Resources in a research report on Monday, July 27th. Zacks Research upgraded Integra Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Integra Resources has an average rating of “Moderate Buy” and an average target price of $6.92.

Integra Resources Stock Down 2.0%

ITRG stock traded down $0.04 during midday trading on Friday, hitting $2.21. The company’s stock had a trading volume of 770,240 shares, compared to its average volume of 2,707,244. The company’s fifty day moving average price is $2.69 and its 200 day moving average price is $2.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.31 and a quick ratio of 3.42. Integra Resources has a twelve month low of $1.99 and a twelve month high of $4.87. The stock has a market capitalization of $449.38 million, a P/E ratio of 55.39 and a beta of 0.86.

Integra Resources (NYSEAMERICAN:ITRG) last issued 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). The company had revenue of $69.42 million for the quarter, compared to analyst estimates of $82.69 million. Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. As a group, equities research analysts predict that Integra Resources will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Integra Resources

A number of large investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of Integra Resources by 2.8% during the second quarter. Van ECK Associates Corp now owns 4,916,009 shares of the company’s stock worth $11,150,000 after purchasing an additional 131,947 shares during the period. Montrusco Bolton Investments Inc. bought a new position in Integra Resources during the 1st quarter worth $7,195,000. U S Global Investors Inc. acquired a new position in Integra Resources in the 3rd quarter valued at $6,173,000. Renaissance Technologies LLC raised its holdings in Integra Resources by 287.8% in the 1st quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock valued at $5,725,000 after acquiring an additional 1,556,199 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Integra Resources during the 2nd quarter valued at $3,939,000. Institutional investors own 26.67% of the company’s stock.

About Integra Resources

Integra Resources Corp. is a precious metals exploration and development company focused on gold and silver projects in the western United States. The company’s activities include mineral exploration, resource evaluation, project permitting and the advancement of potential mining operations.

Integra’s flagship asset is the DeLamar Project in southwestern Idaho, which includes the historic DeLamar and Florida Mountain mining areas. The district was previously mined for gold and silver, and Integra has worked to assess its remaining mineral resources and evaluate the potential for redevelopment using modern mining and processing methods.

The company has also pursued exploration and development opportunities in Nevada, including the Nevada North Project.