Integra Resources (NYSEAMERICAN:ITRG) Earns Speculative Buy Rating from Analysts at Canaccord Genuity Group

Investment analysts at Canaccord Genuity Group started coverage on shares of Integra Resources (NYSEAMERICAN:ITRG) in a report issued on Monday,Benzinga reports. The brokerage set a “speculative buy” rating and a $9.25 price target on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 117.39% from the stock’s previous close.

Several other equities research analysts also recently weighed in on ITRG. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target (up from $4.75) on shares of Integra Resources in a report on Friday, December 19th. Roth Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Integra Resources in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $6.75.

Integra Resources Stock Performance

Shares of ITRG stock traded up $0.34 during mid-day trading on Monday, reaching $4.26. 2,682,937 shares of the company’s stock traded hands, compared to its average volume of 2,173,632. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a market capitalization of $720.37 million, a PE ratio of 47.28 and a beta of 0.75. Integra Resources has a 12 month low of $0.79 and a 12 month high of $4.69. The firm has a 50 day moving average price of $3.62 and a two-hundred day moving average price of $2.73.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Integra Resources in the 2nd quarter valued at about $7,106,000. Bank of America Corp DE raised its holdings in shares of Integra Resources by 60.9% during the third quarter. Bank of America Corp DE now owns 3,806,494 shares of the company’s stock valued at $11,229,000 after acquiring an additional 1,440,789 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Integra Resources by 986.2% in the third quarter. Two Sigma Investments LP now owns 938,394 shares of the company’s stock valued at $2,768,000 after acquiring an additional 852,003 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Integra Resources by 58.0% in the third quarter. Millennium Management LLC now owns 708,954 shares of the company’s stock worth $2,083,000 after acquiring an additional 260,157 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Integra Resources in the third quarter worth approximately $673,000. 26.67% of the stock is owned by institutional investors and hedge funds.

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.