Integra Resources (NYSEAMERICAN:ITRG) Shares Down 7.1% – What’s Next?

Integra Resources Corp. (NYSEAMERICAN:ITRG) was down 7.1% on Friday . The stock traded as low as $3.19 and last traded at $3.2250. Approximately 1,244,584 shares were traded during trading, a decline of 52% from the average daily volume of 2,582,918 shares. The stock had previously closed at $3.47.

Wall Street Analysts Forecast Growth

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

Integra Resources Stock Down 7.6%

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’s fifty day moving average is $3.94 and its 200-day moving average is $3.43. The stock has a market capitalization of $647.44 million, a price-to-earnings ratio of 35.62 and a beta of 0.68.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. StoneX Group Inc. lifted its holdings in shares of Integra Resources by 39.4% during the fourth quarter. StoneX Group Inc. now owns 15,965 shares of the company’s stock valued at $64,000 after purchasing an additional 4,515 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Integra Resources during the 4th quarter worth $29,000. Jane Street Group LLC raised its holdings in Integra Resources by 5.4% during the fourth quarter. Jane Street Group LLC now owns 171,694 shares of the company’s stock valued at $688,000 after buying an additional 8,724 shares in the last quarter. Independent Advisor Alliance acquired a new stake in Integra Resources in the 4th quarter worth approximately $40,000. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Integra Resources in the fourth quarter worth $40,000. 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.