Integra Resources’ (ITRG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Integra Resources (NYSEAMERICAN:ITRG) in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $6.75 target price on the stock.

A number of other equities analysts have also recently issued reports on ITRG. Zacks Research upgraded Integra Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Roth Capital set a $5.00 price objective on Integra Resources in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Integra Resources Stock Performance

NYSEAMERICAN ITRG opened at $2.43 on Wednesday. Integra Resources has a 52-week low of $1.99 and a 52-week high of $4.87. The company has a fifty day moving average of $2.71 and a 200-day moving average of $2.61. The company has a market capitalization of $493.00 million, a P/E ratio of 60.77 and a beta of 0.86. 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 (NYSEAMERICAN:ITRG) last released its earnings results on Tuesday, August 11th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. The firm had revenue of $69.42 million during the quarter, compared to the consensus estimate of $82.69 million. As a group, equities research analysts predict that Integra Resources will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Integra Resources

A number of hedge funds have recently made changes to their positions in the business. Castleview Partners LLC raised its position in Integra Resources by 23.1% in the 3rd quarter. Castleview Partners LLC now owns 32,000 shares of the company’s stock worth $82,000 after purchasing an additional 6,000 shares during the period. Engineers Gate Manager LP boosted its position in Integra Resources by 21.7% during the second quarter. Engineers Gate Manager LP now owns 56,508 shares of the company’s stock valued at $128,000 after buying an additional 10,093 shares during the period. Pale Fire Capital SE purchased a new stake in Integra Resources during the second quarter valued at about $2,395,000. GTS Securities LLC purchased a new stake in Integra Resources during the second quarter valued at about $26,000. Finally, Van ECK Associates Corp grew its stake 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 valued at $11,150,000 after buying an additional 131,947 shares during the last quarter. 26.67% of the stock is currently owned by institutional investors.

About Integra Resources

Integra Resources Corp. is a precious metals exploration and development company focused on advancing gold and silver projects in the United States. The company’s primary asset is the DeLamar Project in southwestern Idaho, which includes the DeLamar and Florida Mountain deposits in Owyhee County.

DeLamar is a past-producing mining district with existing mineral resources and infrastructure from historical operations. Integra is evaluating the project’s potential through exploration, technical studies, permitting and mine-development planning, with the goal of establishing a modern open-pit mining and processing operation.