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Integra Resources

ITR.V
62
Other Precious Metals · Basic Materials
Price
C$3.91
-0.01 (-0.26%)
Market Cap
C$792.8M
Exchange
Toronto Stock Exchange Ventures
Winston Score
62
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Good
Cash Flow
Strong
Stability
Exceptional
Valuation
Good

Share count rising — dilution

+642.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 22.8M (2021) → 169.3M (2025)

Winston Score History

The full picture

Integra Resources Corp. is a gold and silver mining company focused on exploring and developing precious metal deposits in the western United States. Its main asset is the Florida Mountain Gold Project in Idaho, a historic mining district that the company is working to bring back into production. The company targets institutional and retail investors who want exposure to gold and silver without the complexity of a major diversified miner.

Integra makes money primarily by advancing its mineral projects toward production, funding operations through equity raises and partnerships rather than significant product sales yet. It operates entirely within the United States, giving it a relatively stable regulatory environment compared to miners working in riskier jurisdictions — a modest but real competitive advantage. The key growth driver is successfully permitting and building out its Idaho project into a producing mine, while the main risk is the high capital cost and timeline uncertainty that comes with any early-stage mining development.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-9.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

9.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$111M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Integra Resources is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
22.5%
Thin — 22.5% gross margin
Profit after running costs
Operating Margin
19.0%
Healthy — 19.0% operating margin
Return on the money invested
ROCE
23.5%
Exceptional — 23.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+72.2%
Fast-growing sales (+72.2% YoY)
Profit growth
EPS YoY
-34.8%
Earnings shrinking (-34.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
735%
Turns 735% of profit into real cash
Spare cash per sale
FCF Margin
1.3%
Thin free cash flow (1.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.03
Conservative — low debt load (0.03)
Covers its interest
Interest Cover
17.92x
Comfortably covers interest (17.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
71.4x
Expensive — P/E 71.4

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+66.1
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (71.4 → 5.3)

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Dividends

Not applicable for this business.
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