Zacks Investment Research Downgrades Integra Resources (NYSEMKT:ITRG) to Hold

Integra Resources (NYSEMKT:ITRGGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Integra Resources Corp. is a development-stage company. It is engaged in the acquisition, exploration and development of mineral properties primarily in the Americas. The company’s principal project consists of DeLamar Project and Florida Mountain Gold and Silver Deposits in Owyhee County mining district. Integra Resources Corp. is based in Vancouver, Canada. “

ITRG has been the subject of several other research reports. Raymond James lowered their price target on shares of Integra Resources from C$6.75 to C$5.50 in a report on Wednesday, March 30th. Desjardins cut their price target on shares of Integra Resources from C$7.00 to C$4.00 in a report on Tuesday, February 15th. Finally, HC Wainwright boosted their price objective on Integra Resources from $6.50 to $7.25 and gave the company a “buy” rating in a research note on Wednesday, March 30th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $5.05.

Shares of Integra Resources stock opened at $1.28 on Wednesday. The business’s 50-day moving average price is $1.46 and its 200-day moving average price is $1.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The firm has a market capitalization of $80.13 million, a P/E ratio of -2.21 and a beta of 1.79.

Several institutional investors and hedge funds have recently modified their holdings of ITRG. Raffles Associates LP grew its position in shares of Integra Resources by 63.7% during the 4th quarter. Raffles Associates LP now owns 257,007 shares of the company’s stock worth $553,000 after buying an additional 100,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Integra Resources during the fourth quarter valued at approximately $201,000. Equinox Partners Investment Management LLC acquired a new stake in Integra Resources in the third quarter valued at approximately $119,000. Invesco Ltd. grew its holdings in Integra Resources by 10.4% in the third quarter. Invesco Ltd. now owns 570,712 shares of the company’s stock valued at $1,302,000 after purchasing an additional 53,657 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Integra Resources by 17.8% in the third quarter. Franklin Resources Inc. now owns 3,975,000 shares of the company’s stock valued at $9,084,000 after purchasing an additional 600,000 shares during the period. 28.22% of the stock is currently owned by institutional investors and hedge funds.

About Integra Resources (Get Rating)

Integra Resources Corp., a mineral resources company, engages in the acquisition, exploration, and development of mineral properties in the Americas. The company primarily focuses on the development of DeLamar project that consists of DeLamar and Florida Mountain gold and silver deposits comprising 748 unpatented lode, placer, and millsite claims, as well as 16 tax parcels covering an area of approximately 8,100 hectares located in the Owyhee County, south western Idaho.

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