Integra Resources (NYSEMKT:ITRG) Stock Rating Upgraded by Zacks Investment Research

Integra Resources (NYSEMKT:ITRG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Integra Resources Corp. is a development-stage company. It is engaged in the acquisition, exploration and development of mineral properties primarily in the Americas. The company’s principal project consists of DeLamar Project and Florida Mountain Gold and Silver Deposits in Owyhee County mining district. Integra Resources Corp. is based in Vancouver, Canada. “

Other analysts have also issued research reports about the company. Desjardins decreased their price objective on Integra Resources from C$7.00 to C$6.75 and set a “buy” rating on the stock in a report on Tuesday. National Bank of Canada started coverage on Integra Resources in a report on Tuesday, June 22nd. They set an “outperform” rating on the stock. National Bank Financial restated an “outperform spec overweight” rating on shares of Integra Resources in a research report on Monday, June 21st. Finally, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Integra Resources in a research report on Wednesday, September 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $6.88.

ITRG traded up $0.10 during midday trading on Thursday, reaching $2.52. The company’s stock had a trading volume of 263,102 shares, compared to its average volume of 111,548. The firm has a market cap of $139.41 million, a PE ratio of -4.34 and a beta of 1.65. The stock’s fifty day moving average is $2.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.37 and a quick ratio of 2.37.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its position in Integra Resources by 16.2% in the 2nd quarter. Invesco Ltd. now owns 517,055 shares of the company’s stock valued at $1,513,000 after purchasing an additional 72,223 shares during the last quarter. Merk Investments LLC raised its position in Integra Resources by 1,116.7% in the 2nd quarter. Merk Investments LLC now owns 2,920,000 shares of the company’s stock valued at $8,550,000 after purchasing an additional 2,679,999 shares during the last quarter. Amundi bought a new position in Integra Resources in the 2nd quarter valued at $292,000. Renaissance Technologies LLC acquired a new stake in shares of Integra Resources in the 2nd quarter valued at $176,000. Finally, Ruffer LLP increased its stake in shares of Integra Resources by 14.4% in the 2nd quarter. Ruffer LLP now owns 1,614,579 shares of the company’s stock valued at $4,723,000 after buying an additional 203,452 shares during the period. Hedge funds and other institutional investors own 28.77% of the company’s stock.

Integra Resources Company Profile

Integra Resources Corp., a mineral resources company, engages in the acquisition, exploration, and development of mineral properties in the Americas. The company primarily focuses on the development of DeLamar project that consists of DeLamar and Florida Mountain gold and silver deposits comprising 748 unpatented lode, placer, and millsite claims, as well as 16 tax parcels covering an area of approximately 8,100 hectares located in the Owyhee County, south western Idaho.

Featured Article: What factors cause inflation to rise?

Get a free copy of the Zacks research report on Integra Resources (ITRG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Integra Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Integra Resources and related companies with MarketBeat.com's FREE daily email newsletter.