Investing.com – H.C. Wainwright reiterated a Buy rating and $6.75 price target on Integra Resources Corp. () stock following the company’s updated feasibility study. The stock currently trades at $2.36, down 43.7% over the past six months despite posting a 55.81% gain over the past year. According to InvestingPro analysis, the stock appears undervalued at current levels.
Integra Resources released an updated Feasibility Study and Life-of-Mine Plan for its Florida Canyon Mine on Wednesday. The updated study shows Florida Canyon is positioned to deliver an average of 82,000 gold ounces per year over an 8-year operating mine life.
The updated plan represents a 17% increase over the prior 70,000 ounce per year plan. Active mining has been extended through 2033.
The company issued 2026 production guidance of 70,000 to 75,000 ounces. H.C. Wainwright characterized 2026 as a cost-intensive transition year.
Over its mine life, the asset is expected to produce 685,000 ounces of payable gold, including two years of residual heap-leach recoveries beginning in 2033. InvestingPro subscribers have access to 11 additional exclusive tips for ITRG, plus a comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Integra Resources Corp. has released an updated feasibility study for its Florida Canyon Mine in Nevada, revealing a 74% increase in proven and probable mineral reserves, extending the mine’s life through 2033. The updated reserves now total 1.19 million ounces of gold, up from 685,000 ounces in the 2024 mineral reserve statement, with mining operations extended by three years. Additionally, Integra has appointed Ausenco Engineering USA South Inc. as the lead engineering partner for its DeLamar Project in Idaho, with SLR Consulting providing specialized expertise. The U.S. Bureau of Land Management has initiated the National Environmental Policy Act review process for the DeLamar Project, marking the start of an Environmental Impact Statement preparation and a 30-day public comment period.
Integra Resources also announced the appointment of three new executives to its leadership team, including Scott Trebilcock as Senior Vice President, Corporate Development. Trebilcock brings over 30 years of experience in process engineering and mining, having previously worked on significant mergers and acquisitions in the industry. Furthermore, Integra will grant $1.5 million in shares to the Shoshone-Paiute Tribes as part of an agreement related to the DeLamar Project, with the equity grant subject to customary closing conditions. These developments highlight Integra Resources’ strategic moves in project expansion and community engagement.
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