Integra Resources (NYSEAMERICAN:ITRG) Trading Down 9.1% – Here’s What Happened

Integra Resources Corp. (NYSEAMERICAN:ITRG) fell 9.1% during mid-day trading on Thursday . The stock traded as low as $2.65 and last traded at $2.7450. 1,570,835 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 2,754,325 shares. The stock had previously closed at $3.02.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Roth Mkm set a $7.00 price target on shares of Integra Resources in a research report on Tuesday, January 27th. Canaccord Genuity Group started coverage on Integra Resources in a report on Monday, January 12th. They set a “moderate buy” rating and a $9.25 price target for the company. Finally, HC Wainwright decreased their price objective on shares of Integra Resources from $7.25 to $7.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $7.75.

Integra Resources Stock Down 12.7%

The company’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $3.47. The stock has a market cap of $532.30 million, a P/E ratio of 29.46 and a beta of 0.68. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On Integra Resources

A number of institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Integra Resources during the fourth quarter worth about $29,000. Independent Advisor Alliance purchased a new stake in Integra Resources during the fourth quarter valued at $40,000. Hohimer Wealth Management LLC purchased a new position in shares of Integra Resources in the 4th quarter worth approximately $40,000. Brookstone Capital Management bought a new stake in shares of Integra Resources in the 4th quarter worth about $41,000. Finally, Bank of America Corp DE boosted its holdings in Integra Resources by 336.4% during the 4th quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock valued at $41,000 after acquiring an additional 35,997 shares during the period. Hedge funds and other institutional investors own 26.67% of the company’s stock.

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.