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

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/