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

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $3.60, but opened at $3.87. Integra Resources shares last traded at $3.81, with a volume of 433,812 shares changing hands.

Wall Street Analyst Weigh In

ITRG has been the subject of several recent analyst reports. Roth Mkm set a $7.00 target price on shares of Integra Resources in a research note on Tuesday, January 27th. Canaccord Genuity Group initiated coverage on shares of 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 lifted their price objective on Integra Resources from $5.00 to $7.25 and gave the company a “buy” rating in a report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.83.

Integra Resources Stock Performance

The stock’s 50 day moving average price is $4.04 and its two-hundred day moving average price is $3.04. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $684.29 million, a price-to-earnings ratio of 41.54 and a beta of 0.72.

Institutional Investors Weigh In On Integra Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Integra Resources by 0.8% during the second quarter. Franklin Resources Inc. now owns 11,865,543 shares of the company’s stock worth $17,945,000 after purchasing an additional 100,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Integra Resources by 39.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,578,187 shares of the company’s stock valued at $19,195,000 after buying an additional 1,871,042 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Integra Resources by 60.9% during the 3rd quarter. Bank of America Corp DE now owns 3,806,494 shares of the company’s stock worth $11,229,000 after buying an additional 1,440,789 shares during the last quarter. U S Global Investors Inc. boosted its position in shares of Integra Resources by 824.1% in the 4th quarter. U S Global Investors Inc. now owns 1,386,127 shares of the company’s stock worth $5,558,000 after buying an additional 1,236,127 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Integra Resources by 986.2% in the 3rd quarter. Two Sigma Investments LP now owns 938,394 shares of the company’s stock valued at $2,768,000 after acquiring an additional 852,003 shares during the last quarter. Institutional investors and hedge funds 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.