Integra Resources (NYSEAMERICAN:ITRG) Shares Gap Down – Here’s Why

Integra Resources Corp. (NYSEAMERICAN:ITRG) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.69, but opened at $3.40. Integra Resources shares last traded at $3.3650, with a volume of 3,002,462 shares trading hands.

Analyst Upgrades and Downgrades

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

Integra Resources Price Performance

The company’s 50-day moving average price is $4.06 and its 200-day moving average price is $3.08. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 0.02. The firm has a market cap of $635.74 million, a price-to-earnings ratio of 38.56 and a beta of 0.72.

Institutional Inflows and Outflows

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