Integra Resources Corp. (ITRG) PT Raised to $2.75 at H.C. Wainwright

H.C. Wainwright analyst Heiko Ihle raised the price target on Integra Resources Corp. (NYSE: ITRG) to $2.75 (from $2.00) while maintaining a Buy rating.

The analyst commented: "Even though we view ITRG's recent financials as largely irrelevant, we nonetheless note that the company recorded $30.4M in revenue during the year, which yielded a net loss of $9.5M, or ($0.10) per share. This compares favorably to no revenue in 2023 and a net loss of $29.0M, or ($0.52) per share. We highlight that we have incorporated Florida Canyon into our DCF model to more closely align our model with the firm’s operations going forward. We stress that management successfully navigated the transition from a gold development-stage firm to a gold producer. Looking ahead, we expect the cash flow generated from Florida Canyon to be a significant driver in ongoing advancement of Integra’s asset base. Lastly, we highlight the firm’s strong financial position of over $50M in cash and cash equivalents that provide strong working capital. We are reiterating our Buy rating on Integra as we sharply increase our PT to $2.75 from $2.00."

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