Integra Resources (NYSEAMERICAN:ITRG) Shares Gap Up – What’s Next?

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.72, but opened at $2.89. Integra Resources shares last traded at $2.8550, with a volume of 1,358,838 shares changing hands.

Analyst Ratings Changes

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

Integra Resources Trading Down 7.7%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a market capitalization of $507.05 million, a P/E ratio of -251.00 and a beta of 0.68. The firm has a 50 day simple moving average of $3.70 and a two-hundred day simple moving average of $3.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Integra Resources in the 4th quarter worth about $29,000. Virtu Financial LLC increased its stake in Integra Resources by 157.2% in the 4th quarter. Virtu Financial LLC now owns 82,023 shares of the company’s stock valued at $329,000 after buying an additional 50,134 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Integra Resources by 35.2% during the 4th quarter. XTX Topco Ltd now owns 267,825 shares of the company’s stock worth $1,074,000 after buying an additional 69,723 shares in the last quarter. Millennium Management LLC lifted its position in shares of Integra Resources by 175.7% during the 4th quarter. Millennium Management LLC now owns 1,954,804 shares of the company’s stock worth $7,850,000 after buying an additional 1,245,850 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Integra Resources in the 4th quarter worth approximately $46,000. 26.67% of the stock is currently owned by hedge funds and other institutional investors.

Integra Resources Company Profile

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.