HC Wainwright Forecasts Strong Price Appreciation for Integra Resources (NYSEAMERICAN:ITRG) Stock

Integra Resources (NYSEAMERICAN:ITRG) had its price objective hoisted by research analysts at HC Wainwright from $5.00 to $7.25 in a research report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 75.12% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group began coverage on shares of Integra Resources in a research note on Monday, January 12th. They set a “moderate buy” rating and a $9.25 price target on the stock. Roth Mkm set a $7.00 price objective on shares of Integra Resources in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.83.

Integra Resources Stock Down 8.2%

Shares of Integra Resources stock opened at $4.14 on Wednesday. The firm has a market cap of $758.49 million, a price-to-earnings ratio of 46.01 and a beta of 0.75. The stock has a 50-day simple moving average of $4.01 and a 200-day simple moving average of $2.99. Integra Resources has a 52-week low of $1.01 and a 52-week high of $4.87. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.58 and a quick ratio of 1.05.

Institutional Trading of Integra Resources

Several hedge funds and other institutional investors have recently modified their holdings of ITRG. UBS Group AG lifted its holdings in shares of Integra Resources by 316.0% in the fourth quarter. UBS Group AG now owns 608,482 shares of the company’s stock valued at $2,440,000 after purchasing an additional 462,205 shares in the last quarter. Pinion Investment Advisors LLC acquired a new stake in Integra Resources in the 4th quarter valued at approximately $55,000. U S Global Investors Inc. lifted its stake in Integra Resources by 824.1% in the 4th quarter. U S Global Investors Inc. now owns 1,386,127 shares of the company’s stock valued at $5,558,000 after acquiring an additional 1,236,127 shares in the last quarter. Brookstone Capital Management acquired a new position in Integra Resources during the 4th quarter worth approximately $41,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Integra Resources during the 3rd quarter worth approximately $141,000. Institutional investors and hedge funds own 26.67% of the company’s stock.

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.