Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on Integra Resources Corp, boosting the price target to $4.75.
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Heiko Ihle has given his Buy rating due to a combination of factors including Integra Resources Corp’s recent production results and strategic developments. The company’s 3Q25 production results were in line with expectations, producing 20,653 ounces of gold, benefiting from the Phase IIIa heap leach pad and improved solution flow rates. Additionally, the acquisition of Florida Canyon is seen as a success, contributing positively to the company’s performance, especially since it was acquired when gold prices were lower.
Furthermore, Integra Resources has a strong financial position with a cash balance of approximately $81.2 million. The company’s commitment to reinvesting in the Florida Canyon site, including increased capitalized waste stripping and equipment upgrades, is expected to enhance productivity and reduce costs. These factors, along with a revised price target of $4.75 based on a 1.4x NAV multiple, support the Buy rating, reflecting confidence in the company’s asset base and management’s progress in advancing development projects.
In another report released on October 20, Stifel Nicolaus also maintained a Buy rating on the stock with a C$7.00 price target.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ITR in relation to earlier this year.