Integra Resources Corp. (NYSEAMERICAN:ITRG) Short Interest Up 43.0% in December

Integra Resources Corp. (NYSEAMERICAN:ITRG) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 623,200 shares, a growth of 43.0% from the November 30th total of 435,900 shares. Based on an average daily trading volume, of 267,400 shares, the short-interest ratio is presently 2.3 days. Approximately 0.4% of the company’s stock are short sold.

Integra Resources Price Performance

ITRG stock traded down $0.01 during trading on Monday, hitting $0.87. The company had a trading volume of 237,360 shares, compared to its average volume of 176,195. Integra Resources has a fifty-two week low of $0.64 and a fifty-two week high of $1.28. The firm has a market cap of $146.64 million, a price-to-earnings ratio of -2.64 and a beta of 1.35.

Analysts Set New Price Targets

Several brokerages recently commented on ITRG. HC Wainwright reiterated a “buy” rating and issued a $3.75 target price on shares of Integra Resources in a report on Thursday, October 31st. Cormark upgraded Integra Resources to a “moderate buy” rating in a research note on Monday, November 11th. Finally, Desjardins upgraded Integra Resources to a “moderate buy” rating in a research note on Thursday, October 31st.

Institutional Investors Weigh In On Integra Resources

A hedge fund recently bought a new stake in Integra Resources stock. The Manufacturers Life Insurance Company bought a new position in shares of Integra Resources Corp. (NYSEAMERICAN:ITRG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,217,846 shares of the company’s stock, valued at approximately $1,189,000. The Manufacturers Life Insurance Company owned about 1.38% of Integra Resources as of its most recent SEC filing. 26.67% of the stock is owned by hedge funds and other institutional investors.

Integra Resources Company Profile

Integra Resources Corp., a precious metals exploration and development company, engages in the acquisition, exploration, and development of mineral properties in the Great Basin of the Western United States. The company explores for gold and silver deposits. It primarily focuses on developing DeLamar Project located in southwestern Idaho; and the Wildcat and Mountain View Projects located in western Nevada.