Integra Resources

ITRG · TSX

$2.21−$0.05 (−2.21%)TodayMarket closed · Oct 23, 8:00 PM ET

Prev close $2.26

ITRG analyst rating

BuyConsensus of 4 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy4
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $6.05 (+174.0% upside)

Low: $3.79
Now: $2.21
High: $7.31

Upgrades and downgrades

The latest rating actions, newest first

ITRG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
HC Wainwright & Co.	Oct 23, 2026	Maintains	Buy	$6.75 → $6.50	25%
HC Wainwright & Co.	Oct 14, 2026	Maintains	Buy	$6.75	25%
HC Wainwright & Co.	Aug 12, 2026	Maintains	Buy	$6.75	25%
Keybanc	Jul 21, 2026	Maintains	Overweight	$99.00 → $104.00	56%
Roth Capital	Jun 29, 2026	Maintains	Buy	$6.00	44%
HC Wainwright & Co.	May 12, 2026	Maintains	Buy	$7.00 → $6.75	25%
HC Wainwright & Co.	Apr 27, 2026	Maintains	Buy	$7.00	25%
HC Wainwright & Co.	Feb 24, 2026	Maintains	Buy	$7.25 → $7.00	25%
HC Wainwright & Co.	Jan 28, 2026	Maintains	Buy	$5.00 → $7.25	25%
Canaccord Genuity	Jan 12, 2026	Initiates	Speculative Buy	$9.25	—

The case for and against

Updated Oct 21, 2026

Bull case

Integra Resources is supported by a strong fundamental profile anchored by DeLamar, where the December 2025 feasibility study outlined an after-tax NPV of $774.0M and a 46% after-tax IRR at $3,000/oz gold and $35/oz silver, underscoring robust project economics. On October 13, 2026, management advanced engineering, permitting, procurement, and site improvements toward a potential 2H27 Final Investment Decision, while the balance sheet of $111.1M cash and $146.5M working capital provides funding for de-risking without immediate dilution. With DeLamar in the formal NEPA process, an accelerated 15-month FAST-41 schedule, and Nevada North exploration now fully approved, the company appears positioned to expand optionality and monetize its asset base as Florida Canyon generates growing cash flow.

Bear case

Integra Resources is facing a fundamentally weaker risk-reward profile because the June 25, 2026 Florida Canyon feasibility study added mine-life extension, reserve and resource growth, and higher production rates, but those positives were offset by higher operating and sustaining capital costs and a lower average recovery rate. The net effect was only a negligible DCF change of negative $0.06 per share, while updated gold and silver assumptions cut valuation by another $0.04 per share, suggesting limited upside from the revised plan. Beyond the study, the company remains exposed to political, commodity, operational, technical, and broader market risks, with gold price sensitivity and heap-leach execution uncertainty keeping fundamentals fragile.

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