The Globe and Mail reports in its Wednesday, Feb. 11, edition that Raymond James analyst Brian MacArthur, following the close of Integra Resources' $61-million (U.S.) bought deal financing, bumped his share target to $9 from $8, while maintaining an "outperform" recommendation (all figures Canadian unless otherwise stated). The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $9.11. Mr. MacArthur says in a note: "Integra's producing asset is the Florida Canyon mine in Nevada. In addition, Integra plans to use cash flow from Florida Canyon to develop the DeLamar project in Idaho (a lower-risk jurisdiction with a Governor that is pro-mining, and near infrastructure) and the Nevada North project in Nevada (another lower risk jurisdiction) to create a multi-asset U.S. producer. Given the lower jurisdictional risk, potential for resource and production growth, and current valuation, we rate the shares 'outperform.'" The Globe reported on Dec. 19 that Mr. MacArthur had raised his share target to $6.50 from $5.75, with an unchanged "outperform" ranking. It was then worth $6.08.
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