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Investing.com - H.C. Wainwright has reiterated a Buy rating and $2.75 price target on Integra Resources Corp. (NYSE:ITRG) following the company’s release of 2025 guidance for its Florida Canyon Mine. The target represents a 91% upside from the current price of $1.44, with InvestingPro analysis suggesting the stock is currently undervalued.
Integra announced on June 26 that it expects to produce between 70,000 and 75,000 ounces of gold at the Florida Canyon Mine in 2025, with anticipated cash costs ranging from $1,800 to $1,900 per ounce. The company maintains strong financial health with a current ratio of 2.25 and holds more cash than debt on its balance sheet.
The production and cost guidance aligns with H.C. Wainwright’s existing model, which had projected 71,768 ounces of gold production and cash costs of $1,850 per ounce for 2025.
Sustaining capital at Florida Canyon is expected to be between $48.0 million and $53.0 million, primarily allocated to capitalized waste stripping, heap leach pad expansion, and mobile fleet rebuilds.
The company also plans to invest $8.0 to $10.0 million in growth capital for various expansion projects, engineering studies, and a 10,000-meter drill program intended to support a 2026 resource update and revised life-of-mine plan. Despite recent market volatility, with the stock showing a 65.5% return over the past six months, ITRG maintains a conservative debt-to-equity ratio of 0.19.
In other recent news, Integra Resources Corp. maintained its Buy rating with a $2.75 price target from H.C. Wainwright. The company reported strong performance at its Florida Canyon Mine, producing 19,323 ounces of gold during the quarter. This production exceeded both management and analyst expectations, partly due to an efficiency initiative that reclaimed approximately 2,000 ounces of gold. Integra’s financial health remains robust, with $61.1 million in cash and cash equivalents and $68.3 million in working capital at the end of the first quarter of 2025. The ramp-up of solution flow rates through the heap leach pads, thanks to a new carbon-in-column circuit, has supported sustainable production. H.C. Wainwright highlighted the company’s potential to generate significant cash flow in upcoming quarters, aiding in de-risking and advancing its asset base. The favorable gold price environment, with prices reaching $3,380 per ounce, further supports the optimistic outlook. The firm’s reiteration of the Buy rating reflects confidence in Integra’s operational performance and financial stability.
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