Integra Resources (NYSEAMERICAN:ITRG) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Integra Resources (NYSEAMERICAN:ITRG) from a hold rating to a strong sell rating in a research note released on Thursday,Zacks.com reports.

Several other equities research analysts have also commented on the company. Roth Capital restated a “buy” rating and set a $6.00 target price on shares of Integra Resources in a research report on Monday, June 29th. HC Wainwright reiterated a “buy” rating on shares of Integra Resources in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Integra Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.33.

Integra Resources Stock Down 1.4%

Shares of NYSEAMERICAN:ITRG opened at $2.06 on Thursday. The company has a quick ratio of 3.17, a current ratio of 4.96 and a debt-to-equity ratio of 0.10. The firm has a market cap of $417.71 million, a P/E ratio of 51.51 and a beta of 0.85. The company’s 50-day moving average price is $2.46 and its two-hundred day moving average price is $3.14. Integra Resources has a 12 month low of $1.43 and a 12 month high of $4.87.

Hedge Funds Weigh In On Integra Resources

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Integra Resources in the 4th quarter valued at about $29,000. Independent Advisor Alliance acquired a new position in Integra Resources during the 4th quarter worth approximately $40,000. Hohimer Wealth Management LLC acquired a new position in Integra Resources during the 4th quarter worth approximately $40,000. Brookstone Capital Management acquired a new position in Integra Resources during the 4th quarter worth approximately $41,000. Finally, Bank of America Corp DE boosted its holdings in Integra Resources by 336.4% in the fourth quarter. Bank of America Corp DE now owns 46,697 shares of the company’s stock worth $41,000 after acquiring an additional 35,997 shares in the last quarter. 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.