Gold and silver miner Integra down after $55 mln stock deal

Canaccord Genuity

05/02/2026 12:31

** U.S.-listed shares of Canadian precious metals producer Integra Resources ITRG.A down 5.1% premarket to $3.50 after $55 mln equity financing

    ** Integra, focused on the Great Basin region in the western U.S., late Weds announced ~16.2 mln share "bought deal" offering at $3.40

    ** Offering price represents 7.9% discount to stock's last close

    ** Co intends to use net offering proceeds to fund pre-production capex at the DeLamar Project, located in southwestern Idaho, including procurement work, early works and land purchase

** Canaccord Genuity and Stifel's Canadian division joint bookrunners

** Post offering, Integra has ~199.5 mln shares outstanding, per the prospectus

** Through Weds close, ITRG down 8% YTD.  U.S.-listed shares have more than doubled over the past six months

    ** All 8 analysts covering Integra have "buy" ratings, per LSEG; m
    edian PT of C$8 equates to around US$5.80 (based on current exchange rate of 1 CAD = 0.73 USD)

** Meanwhile, spot gold XAU= and silver XAG= prices are retreating from lofty levels GOL/

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))