Globe says Russo rates Integra Gold "outperform 2016-09-16 07:05 ET - In the News
The Globe and Mail reports in its Friday, Sept. 16, edition that Raymond James analyst Phil Russo resumed coverage of Integra Gold (75 cents) with an "outperform" rating. The Globe's David Leeder writes in the Eye On Equities column that Mr. Russo says in a note: "To date Integra has been successful in defining a high grade resource with an initial economic mine plan, in our view, highlighted by the updated PEA released in January 2015 and the most recent resource estimate released in November 2015. Currently Lamaque [in Val d'Or, Que.] is defined as 1.7 Moz at 9.1 g/t (at a 5 g/t cut-off). We believe the project is in the midst of a positive transformation in terms of definition of the deposit, as well as scope, and encourage investors to build positions ahead of upcoming news flow, which in our view, could begin to unlock the further asset optionality on offer and not yet reflected in Integra shares." He set a target of $1.10 for the stock. Analysts on average target the shares at $1.18. The Globe reported on April 21 that unnamed Raymond James analysts had lowered their rating on Integra to "outperform" from "strong buy." Integra shares could then be had for 58 cents.
© 2016 Canjex Publishing Ltd. All rights reserved.