Integra Resources Corp. (NYSEAMERICAN:ITRG) Sees Large Drop in Short Interest

Integra Resources Corp. (NYSEAMERICAN:ITRG) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 523,000 shares, a decline of 25.2% from the January 15th total of 698,900 shares. Based on an average daily volume of 342,300 shares, the short-interest ratio is currently 1.5 days. Currently, 0.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rathbones Group PLC bought a new stake in Integra Resources in the 4th quarter valued at $28,000. MMCAP International Inc. SPC bought a new stake in Integra Resources in the 4th quarter valued at $270,000. Renaissance Technologies LLC boosted its stake in Integra Resources by 30.4% in the 4th quarter. Renaissance Technologies LLC now owns 412,340 shares of the company’s stock valued at $359,000 after purchasing an additional 96,060 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Integra Resources in the 3rd quarter valued at $1,189,000. Finally, Sprott Inc. boosted its stake in Integra Resources by 107.6% in the 4th quarter. Sprott Inc. now owns 1,411,459 shares of the company’s stock valued at $1,227,000 after purchasing an additional 731,624 shares during the period. 26.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ITRG shares. HC Wainwright dropped their target price on Integra Resources from $3.75 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Cormark raised Integra Resources to a “moderate buy” rating in a research report on Monday, November 11th. Finally, Desjardins raised Integra Resources to a “moderate buy” rating in a research report on Thursday, October 31st.

Integra Resources Stock Up 2.4 %

Shares of NYSEAMERICAN ITRG opened at $1.27 on Friday. Integra Resources has a 12 month low of $0.64 and a 12 month high of $1.28. The company has a market cap of $214.08 million, a PE ratio of -3.85 and a beta of 1.37.

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.