Integra Resources (NYSEAMERICAN:ITRG) Stock Price Down 5.8% – What’s Next?

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s share price was down 5.8% during trading on Monday. The stock traded as low as $2.58 and last traded at $2.59. 2,011,600 shares were traded during trading, an increase of 14% from the average session volume of 1,760,676 shares. The stock had previously closed at $2.75.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ITRG shares. Zacks Research upgraded shares of Integra Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Roth Capital set a $5.00 target price on shares of Integra Resources in a research note on Monday, July 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.75 target price on shares of Integra Resources in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Integra Resources presently has an average rating of “Moderate Buy” and an average price target of $7.00.

Integra Resources Stock Down 3.9%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.42 and a current ratio of 5.31. The firm has a market capitalization of $518.36 million, a price-to-earnings ratio of 63.89 and a beta of 0.91. The firm has a fifty day moving average price of $2.63 and a 200 day moving average price of $2.64.

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). The business had revenue of $69.42 million during the quarter, compared to analyst estimates of $82.69 million. Integra Resources had a net margin of 4.14% and a return on equity of 26.86%. As a group, sell-side analysts expect that Integra Resources Corp. will post 0.28 EPS for the current fiscal year.

Institutional Trading of Integra Resources

A number of institutional investors have recently added to or reduced their stakes in ITRG. Caitong International Asset Management Co. Ltd acquired a new position in Integra Resources during the fourth quarter worth about $29,000. GTS Securities LLC acquired a new stake in shares of Integra Resources during the 2nd quarter valued at approximately $26,000. Tacita Capital Inc purchased a new stake in shares of Integra Resources during the 2nd quarter worth approximately $31,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Integra Resources during the 1st quarter worth approximately $124,000. Finally, Engineers Gate Manager LP grew its holdings in shares of Integra Resources by 21.7% in the 2nd quarter. Engineers Gate Manager LP now owns 56,508 shares of the company’s stock worth $128,000 after acquiring an additional 10,093 shares during the period. Hedge funds and other institutional investors own 26.67% of the company’s stock.

Integra Resources Company Profile

Integra Resources Corp. is a precious metals exploration and development company focused on advancing gold and silver projects in the western United States. The company is listed on the NYSE American under the symbol ITRG and on the TSX Venture Exchange under the symbol ITR.

Integra’s principal asset is the DeLamar Project in Owyhee County, Idaho. The project consists of the historic DeLamar and Florida Mountain mining areas, which produced gold and silver in the past. Integra is working to define and expand mineral resources, conduct technical studies, and obtain the approvals needed to evaluate potential future development and production.

Following its acquisition of Millennial Precious Metals, Integra also holds exploration properties in Nevada, including the Wildcat and Mountain View projects.