Integra Resources (NYSEAMERICAN:ITRG) Shares Gap Down – Here’s What Happened

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $2.87, but opened at $2.62. Integra Resources shares last traded at $2.7780, with a volume of 269,653 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ITRG. HC Wainwright cut their price target on shares of 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 initiated coverage on shares of Integra Resources in a research note on Monday, January 12th. They issued a “moderate buy” rating and a $9.25 price objective for the company. Finally, Roth Mkm set a $7.00 price objective on shares of Integra Resources in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $7.75.

Integra Resources Stock Performance

The stock has a market capitalization of $585.83 million, a PE ratio of -290.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.94 and a current ratio of 3.52. The firm has a 50 day moving average of $3.51 and a 200-day moving average of $3.48.

Institutional Trading of Integra Resources

A number of hedge funds have recently made changes to their positions in ITRG. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Integra Resources during the fourth quarter worth approximately $29,000. Independent Advisor Alliance acquired a new position in Integra Resources in the 4th quarter valued at approximately $40,000. Hohimer Wealth Management LLC purchased a new stake in Integra Resources in the 4th quarter worth approximately $40,000. Brookstone Capital Management purchased a new stake in Integra Resources in the 4th quarter worth approximately $41,000. Finally, Bank of America Corp DE boosted its stake 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 valued at $41,000 after buying an additional 35,997 shares during the period. 26.67% of the stock is owned by hedge funds and other institutional investors.

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.