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

Integra Resources Corp. (NYSEAMERICAN:ITRG) saw 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 trading volume, of 342,300 shares, the short-interest ratio is currently 1.5 days. Currently, 0.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On Integra Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Rathbones Group PLC acquired a new position in Integra Resources in the 4th quarter worth about $28,000. MMCAP International Inc. SPC acquired a new stake in shares of Integra Resources in the fourth quarter valued at about $270,000. Renaissance Technologies LLC increased its stake in shares of Integra Resources by 30.4% in the fourth quarter. Renaissance Technologies LLC now owns 412,340 shares of the company’s stock valued at $359,000 after buying an additional 96,060 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Integra Resources in the third quarter valued at about $1,189,000. Finally, Sprott Inc. increased its stake in shares of Integra Resources by 107.6% in the fourth quarter. Sprott Inc. now owns 1,411,459 shares of the company’s stock valued at $1,227,000 after buying an additional 731,624 shares during the period. Institutional investors and hedge funds own 26.67% of the company’s stock.

Integra Resources Stock Up 2.4 %

Shares of 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 stock has a market capitalization of $214.08 million, a price-to-earnings ratio of -3.85 and a beta of 1.37.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Cormark raised Integra Resources to a “moderate buy” rating in a report on Monday, November 11th. Desjardins raised Integra Resources to a “moderate buy” rating in a report on Thursday, October 31st. Finally, HC Wainwright lowered their price target on Integra Resources from $3.75 to $2.00 and set a “buy” rating for the company in a report on Wednesday, January 15th.

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.