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

Integra Resources Corp. (NYSEAMERICAN:ITRG)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.52, but opened at $2.78. Integra Resources shares last traded at $2.8550, with a volume of 1,825,061 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright dropped their price objective on shares of Integra Resources from $7.00 to $6.75 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.67.

Integra Resources Stock Performance

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 stock has a fifty day moving average price of $2.73 and a 200-day moving average price of $3.40. The firm has a market cap of $568.35 million, a price-to-earnings ratio of 70.27 and a beta of 0.82.

Institutional Trading of Integra Resources

Several hedge funds have recently made changes to their positions in ITRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Integra Resources in the second quarter valued at about $7,106,000. Montrusco Bolton Investments Inc. purchased a new position in shares of Integra Resources during the 1st quarter worth approximately $7,195,000. Renaissance Technologies LLC raised its stake in shares of Integra Resources by 287.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,096,899 shares of the company’s stock worth $5,725,000 after buying an additional 1,556,199 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 during the period. Finally, Millennium Management LLC boosted its stake in shares of Integra Resources by 175.7% in the fourth quarter. Millennium Management LLC now owns 1,954,804 shares of the company’s stock valued at $7,850,000 after buying an additional 1,245,850 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.