HC Wainwright Cuts Integra Resources (NYSEAMERICAN:ITRG) Price Target to $6.75

Integra Resources (NYSEAMERICAN:ITRG) had its price objective cut by stock analysts at HC Wainwright from $7.00 to $6.75 in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 130.38% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group began coverage on shares of Integra Resources in a report on Monday, January 12th. They issued a “moderate buy” rating and a $9.25 target price for the company. Roth Mkm set a $7.00 price target on shares of Integra Resources in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Integra Resources presently has a consensus rating of “Buy” and an average target price of $7.67.

Integra Resources Price Performance

Integra Resources stock opened at $2.93 on Tuesday. The firm has a 50-day moving average price of $3.08 and a 200-day moving average price of $3.47. The firm has a market capitalization of $592.59 million, a PE ratio of -293.00 and a beta of 0.82. The company has a current ratio of 3.52, a quick ratio of 1.94 and a debt-to-equity ratio of 0.08. Integra Resources has a 12-month low of $1.41 and a 12-month high of $4.87.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. U S Global Investors Inc. increased its stake in Integra Resources by 824.1% in the 4th quarter. U S Global Investors Inc. now owns 1,386,127 shares of the company’s stock worth $5,558,000 after buying an additional 1,236,127 shares during the period. Quantbot Technologies LP purchased a new position in Integra Resources in the 3rd quarter worth about $673,000. Navellier & Associates Inc. purchased a new position in Integra Resources in the 4th quarter worth about $817,000. Brookstone Capital Management purchased a new position in Integra Resources during the 4th quarter valued at about $41,000. Finally, Huntleigh Advisors Inc. purchased a new position in Integra Resources during the 3rd quarter valued at about $124,000. Hedge funds and other institutional investors 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.