Integra Resources (NYSEAMERICAN:ITRG) Hits New 52-Week High – Here’s What Happened

Shares of Integra Resources Corp. (NYSEAMERICAN:ITRG) reached a new 52-week high during trading on Monday . The stock traded as high as $4.87 and last traded at $4.7830, with a volume of 790719 shares. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ITRG shares. Roth Mkm set a $7.00 target price on Integra Resources in a research note on Tuesday. HC Wainwright upped their price objective on shares of Integra Resources from $5.00 to $7.25 and gave the company a “buy” rating in a report on Wednesday. Finally, 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 target price for the company. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Integra Resources currently has an average rating of “Buy” and a consensus target price of $7.83.

Integra Resources Price Performance

The firm has a 50-day simple moving average of $3.96 and a two-hundred day simple moving average of $2.97. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $826.28 million, a price-to-earnings ratio of 50.12 and a beta of 0.75.

Hedge Funds Weigh In On Integra Resources

Several large investors have recently made changes to their positions in ITRG. Franklin Resources Inc. increased its stake in shares of Integra Resources by 0.8% in the 2nd 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 in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Integra Resources during the second quarter worth approximately $225,000. Rathbones Group PLC grew its holdings in shares of Integra Resources by 33.9% during the second quarter. Rathbones Group PLC now owns 48,400 shares of the company’s stock worth $73,000 after buying an additional 12,250 shares in the last quarter. Brookstone Capital Management purchased a new stake in Integra Resources during the 4th quarter valued at about $41,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Integra Resources during the 3rd quarter worth approximately $141,000. 26.67% of the stock is currently owned by institutional investors and hedge funds.

Integra Resources Company Profile

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.