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Integra Resources Corp
(ITR)
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Rating:66Neutral
Price Target:
C$4.00
▼(-0.99% Downside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by improving financial performance (revenue scale-up, positive profitability, and low leverage) and a supportive earnings update highlighting operational execution and reserve-driven mine-life extension. These positives are tempered by a weaker valuation profile (high P/E with no dividend support) and only moderately strong technicals (near-term strength but still below the 200-day trend and close to overbought readings).
Positive Factors
Reserve Growth and Mine-Life Extension
Substantial reserve growth and a longer mine life strengthen Florida Canyon’s production visibility and asset base. The improved resource position can support sustained output, better infrastructure utilization, and internally funded growth over the medium term.
Negative Factors
Elevated and Rising Production Costs
Higher AISC and cash-cost guidance pressures mine profitability and leaves results more sensitive to operating execution and metal prices. Persistent mining, stacking, fuel, explosives, royalty, and tax costs could limit margin expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Reserve Growth and Mine-Life Extension
Substantial reserve growth and a longer mine life strengthen Florida Canyon’s production visibility and asset base. The improved resource position can support sustained output, better infrastructure utilization, and internally funded growth over the medium term.
Read all positive factors
Integra Resources Corp (ITR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$791.20M
Dividend YieldN/A
Average Volume (3M)309.93K
Price to Earnings (P/E)70.8
Beta (1Y)2.83
Revenue Growth70.91%
EPS Growth-35.45%
CountryCA
Employees329
SectorGeneral
Sector StrengthN/A
IndustryOther Precious Metals
Share Statistics
EPS (TTM)0.04
Shares Outstanding202,873,080
10 Day Avg. Volume202,361
30 Day Avg. Volume309,930
Financial Highlights & Ratios
PEG Ratio4.78
Price to Book (P/B)5.05
Price to Sales (P/S)3.77
P/FCF Ratio40.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$8.37Price Target Upside107.12% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.39
Revenue Forecast (FY)C$439.11M
Integra Resources Corp Business Overview & Revenue Model
Company Description
Integra Resources Corporation is a company focused on mineral resources, dedicated to identifying, acquiring, exploring, and developing valuable mineral properties throughout the Americas. Its primary operational emphasis lies in the advancement o...
How the Company Makes Money
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Integra Resources Corp Earnings Call Summary
Earnings Call Date:Aug 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial narrative: record throughput, substantial reserve/resource growth, an extended and higher‑production life‑of‑mine, robust liquidity, and materially improved cash generation. Offsetting items include near‑term cost pressures (AISC and cash cost increases), higher near‑term capital requirements driven by accelerated heap‑pad construction, commodity‑linked royalty and tax sensitivity, and multi‑year permitting timelines for DeLamar. On balance, the positives—transformational reserve/resource gains, extended mine life, strong cash position and materially improved cash flow—outweigh the operational and cost challenges described.Positive Updates
Record operating throughput and strong quarterly production
Florida Canyon achieved record throughput of 87.9 thousand total tons per day and delivered a 30% quarter‑over‑quarter increase in gold production, producing 16.4 thousand ounces in Q2 2026 (15.8k ounces sold).
Negative Updates
Higher site costs and revised AISC / cash cost guidance
Q2 mine‑site AISC was $3,370 per ounce sold and cash costs averaged $2,500 per ounce sold. 2026 guidance was revised to mine‑site AISC of $3,300–$3,500/oz and total cash cost $2,300–$2,500/oz, reflecting higher mining/stacking rates, lower ounces sold in H1, and cost pressures.
Read all updates
Q2-2026 Updates
Positive
Negative
Record operating throughput and strong quarterly production
Florida Canyon achieved record throughput of 87.9 thousand total tons per day and delivered a 30% quarter‑over‑quarter increase in gold production, producing 16.4 thousand ounces in Q2 2026 (15.8k ounces sold).
Read all positive updates
Company Guidance
Integra maintained 2026 gold production guidance of 70,000–75,000 oz while revising 2026 mine‑site AISC to $3,300–$3,500/oz sold and total cash costs to $2,300–$2,500/oz sold; non‑sustaining growth capital is now guided at $16.5–$18.5M (up ~ $9M) on an assumed gold price of $4,200/oz, with royalties sensitivity of roughly $7/oz for every $100/oz move in the gold price. Management expects sustaining capex to continue into Q3 to fund heap‑leach expansion and stripping, supported by Q2 operational results (record throughput 87.9k tpd, 30% QoQ higher gold production, 16.4k oz produced and 15.8k oz sold, 45% more ore stacked, 4.4M tons ore mined and 3.6M tons waste with a 0.81 strip ratio, and 57.8% recovery) and by a strong balance sheet (cash ≈ $111M, working capital ≈ $146–147M), Q2 revenue $70.8M, operating cash flow $22.8M and free cash flow $9.3M. The updated Florida Canyon life‑of‑mine underpins the guidance, projecting ~82k oz/year average production, LOM AISC ≈ $2,330/oz, ~1.2M oz P&P reserves (up 74% from ~685k oz), 8 years active + 2 years residual leaching, after‑tax NPV ≈ $100M and after‑tax free cash flow ≈ $770M (≈ $99M/year), which management intends to use to self‑fund Florida Canyon growth and advance DeLamar permitting and Nevada North studies.Integra Resources Corp Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 255.58M | 248.20M | 30.35M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 75.98M | 75.40M | 5.37M | -2.11M | -1.92M | -928.00K |
| EBITDA | 71.83M | 83.83M | -3.82M | -26.44M | -22.37M | -39.00M |
| Net Income | 10.17M | -2.28M | -9.50M | -28.95M | -20.40M | -33.12M |
Balance Sheet | ||||||
| Total Assets | 403.03M | 310.66M | 237.08M | 81.80M | 61.42M | 75.16M |
| Cash, Cash Equivalents and Short-Term Investments | 111.20M | 63.34M | 52.55M | 8.79M | 15.92M | 14.34M |
| Total Debt | 31.69M | 21.79M | 25.42M | 11.90M | 12.78M | 3.00M |
| Total Liabilities | 132.07M | 125.75M | 106.53M | 41.57M | 40.10M | 46.09M |
| Stockholders Equity | 270.96M | 184.91M | 130.56M | 40.23M | 21.32M | 29.08M |
Cash Flow | ||||||
| Free Cash Flow | 3.34M | 23.33M | -9.43M | -27.23M | -18.33M | -31.81M |
| Operating Cash Flow | 74.77M | 71.31M | -9.43M | -26.84M | -18.10M | -30.51M |
| Investing Cash Flow | -71.46M | -49.01M | 27.33M | -4.19M | -95.09K | -1.29M |
| Financing Cash Flow | 43.94M | -11.73M | 25.51M | 23.47M | 19.78M | 17.08M |
Integra Resources Corp Technical Analysis
Positive
4.04
Price Trends
3.43
Positive
3.57
Positive
4.30
Negative
Market Momentum
0.14
Positive
55.90
Neutral
54.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ITR, the sentiment is Positive. The current price of 4.04 is above the 20-day moving average (MA) of 3.86, above the 50-day MA of 3.43, and below the 200-day MA of 4.30, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 55.90 is Neutral, neither overbought nor oversold. The STOCH value of 54.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ITR.
Integra Resources Corp Risk Analysis
Integra Resources Corp disclosed 31 risk factors in its most recent earnings report. Integra Resources Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
The Wheaton Royalty Q4, 2023
2.
No Revenue and Negative Cash Flow Q4, 2023
3.
Liquidity and Capital Resources Q4, 2023
Integra Resources Corp Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | C$1.89B | 28.86 | 11.73% | ― | 63.57% | 227.78% | |
77 Outperform | C$1.72B | 26.87 | 18.43% | ― | 54.43% | 148.97% | |
69 Neutral | C$553.84M | 7.86 | 38.96% | 0.96% | 206.10% | ― | |
66 Neutral | C$791.20M | 70.85 | 4.79% | ― | 70.91% | -35.45% | |
63 Neutral | C$1.33B | -3,222.05 | -0.11% | 0.49% | 89.40% | 90.03% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | C$1.57B | -247.28 | -2.93% | ― | ― | -4.92% |
* General Sector Average
TSE:ITR
Integra Resources Corp
3.90
0.28
7.73%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.