Integra Resources (NYSEAMERICAN:ITRG) Shares Down 8.3% – Time to Sell?

Integra Resources Corp. (NYSEAMERICAN:ITRG) fell 8.3% during mid-day trading on Tuesday . The stock traded as low as $4.28 and last traded at $4.2350. 719,799 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,378,612 shares. The stock had previously closed at $4.62.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ITRG shares. Roth Mkm set a $7.00 price target on shares of Integra Resources in a report on Tuesday. Canaccord Genuity Group initiated coverage on shares of Integra Resources in a research note on Monday, January 12th. They set a “moderate buy” rating and a $9.25 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 target price (up previously from $4.75) on shares of Integra Resources in a research report on Friday, December 19th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $7.08.

Integra Resources Stock Down 5.3%

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market capitalization of $801.54 million, a P/E ratio of 48.17 and a beta of 0.75. The firm’s fifty day moving average price is $3.93 and its 200-day moving average price is $2.95.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brookstone Capital Management bought a new position in shares of Integra Resources during the 4th quarter valued at about $41,000. Wealth Enhancement Advisory Services LLC bought a new stake in Integra Resources during the third quarter worth approximately $42,000. Prime Capital Investment Advisors LLC acquired a new position in Integra Resources in the third quarter worth approximately $58,000. Susquehanna International Group LLP bought a new position in shares of Integra Resources in the third quarter valued at $60,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Integra Resources in the third quarter valued at $76,000. 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.