Cormark Issues Q4 Earnings Forecast for Integra Resources

Recently, Cormark analysts raised their Q4 2024 earnings estimate for Integra Resources Corp. (NYSEAMERICAN:ITRG). According to a report released on January 24, the analyst R. Gray now expects the company to report earnings of $0.21 per share, an increase from the previous estimate of $0.16. This adjustment reflects Cormark's ongoing evaluation of Integra Resources, for which they maintain a "Moderate Buy" rating.

For the current fiscal year, the consensus estimate for Integra Resources stands at a loss of ($0.21) per share. This gives investors a broader sense of the company’s performance expectations over the year.

Additionally, other analysts have shared their views on the company’s prospects. Recently, HC Wainwright revised their target price, lowering it from $3.75 to $2.00, while still advising a "buy" rating. Meanwhile, Desjardins upgraded Integra Resources to a "moderate buy" rating in their report, which was issued on October 31.

Integra Resources Stock Performance

Integra Resources’ stock saw a 2.2% increase, opening at $0.95. The company has fluctuated between a 52-week low of $0.64 and a high of $1.28. With a market capitalization of $160.14 million, the stock currently has a price-to-earnings (PE) ratio of -2.88 and a beta value of 1.35, indicating a level of volatility.

Institutional Investments in Integra Resources

Notably, an institutional investor recently acquired a significant stake in Integra Resources. In the third quarter, The Manufacturers Life Insurance Company purchased about 1,217,846 shares, valued at approximately $1,189,000, increasing their stake to 1.38%. As of the latest data, institutional investors and hedge funds collectively hold around 26.67% of Integra Resources’ shares.

About Integra Resources

Integra Resources Corp. is involved in the exploration and development of precious metals, focusing on acquiring valuable mineral properties in the Great Basin region of the Western United States. The company's primary initiatives include the DeLamar Project in southwestern Idaho and the Wildcat and Mountain View Projects in western Nevada, emphasizing gold and silver production.

Earnings, Forecast, Integra