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

Integra Resources Corp. (NYSEAMERICAN:ITRG) gapped down prior to trading on Thursday . The stock had previously closed at $4.24, but opened at $4.06. Integra Resources shares last traded at $4.0750, with a volume of 365,383 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on ITRG. Roth Capital reiterated a “buy” rating and issued a $6.50 price target on shares of Integra Resources in a research report on Wednesday. Canaccord Genuity Group began coverage on Integra Resources in a report on Monday. They set a “moderate buy” rating and a $9.25 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price target (up previously from $4.75) on shares of Integra Resources in a research report on Friday, December 19th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $6.92.

Integra Resources Stock Performance

The company has a market cap of $683.13 million, a price-to-earnings ratio of 44.84 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a fifty day simple moving average of $3.71 and a 200 day simple moving average of $2.78.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of Integra Resources by 0.8% during the second quarter. Franklin Resources Inc. now owns 11,865,543 shares of the company’s stock valued at $17,945,000 after purchasing an additional 100,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Integra Resources by 39.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,578,187 shares of the company’s stock valued at $19,195,000 after buying an additional 1,871,042 shares during the period. Bank of America Corp DE raised its stake in shares of Integra Resources by 60.9% in the 3rd quarter. Bank of America Corp DE now owns 3,806,494 shares of the company’s stock valued at $11,229,000 after buying an additional 1,440,789 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Integra Resources by 986.2% in the 3rd quarter. Two Sigma Investments LP now owns 938,394 shares of the company’s stock valued at $2,768,000 after buying an additional 852,003 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Integra Resources by 58.0% during the 3rd 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 period. 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.