Merk Investments LLC Sells 1,524,511 Shares of Integra Resources Corp. $ITRG

Merk Investments LLC lessened its holdings in shares of Integra Resources Corp. (NYSEAMERICAN:ITRG) by 27.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,999,999 shares of the company’s stock after selling 1,524,511 shares during the period. Integra Resources accounts for approximately 3.6% of Merk Investments LLC’s investment portfolio, making the stock its 7th biggest position. Merk Investments LLC owned about 2.37% of Integra Resources worth $11,798,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ITRG. Bank of America Corp DE boosted its holdings in shares of Integra Resources by 336.4% during the 4th quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock worth $41,000 after purchasing an additional 35,997 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Integra Resources during the third quarter worth $42,000. Jane Street Group LLC acquired a new position in Integra Resources during the second quarter worth $48,000. JPMorgan Chase & Co. purchased a new stake in Integra Resources in the 2nd quarter valued at $53,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of Integra Resources in the 3rd quarter worth $58,000. 26.67% of the stock is owned by hedge funds and other institutional investors.

Integra Resources Price Performance

ITRG stock opened at $3.26 on Tuesday. Integra Resources Corp. has a 52-week low of $1.05 and a 52-week high of $4.87. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 0.02. The stock has a market cap of $658.55 million, a price-to-earnings ratio of 36.23 and a beta of 0.68. The business has a fifty day moving average of $3.91 and a two-hundred day moving average of $3.47.

Wall Street Analyst Weigh In

ITRG has been the topic of several analyst reports. HC Wainwright reduced their price target on Integra Resources from $7.25 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Canaccord Genuity Group started 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. Finally, Roth Mkm set a $7.00 target price on shares of Integra Resources in a research note on Tuesday, January 27th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Integra Resources has a consensus rating of “Buy” and an average target price of $7.75.

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.